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8.2 Concession Agreement – Sample Table of Contents

Concession Agreement

Table of Contents

Model Concession Agreement for National Highways in India

 

Part I: Preliminary

  • Recitals
  • Definitions

Part II: The Concession

  • Scope of the Project
  • Grant of Concession
  • Conditions Precedent
  • Obligations of the Concessionaire
  • Obligations of the Authority
  • Representations and Warranties
  • Disclaimer

Part III: Development and Operations

  • Performance Security
  • Right of Way
  • Utilities, Associated Roads and Trees
  • Construction of the Project Highway
  • Monitoring of Construction
  • Completion Certificate
  • Entry into Commercial Service
  • Change of Scope
  • Operations and Maintenance
  • Safety Requirement
  • Monitoring of Operations and Maintenance
  • Traffic Regulation
  • Emergency Medical Aid
  • Traffic Census and Sampling
  • Independent Engineer

Part IV: Financial Covenants

  • Financial Close
  • Grant/ (or Premium)
  • Concession Fee
  • User Fee
  • Revenue Shortfall Loan
  • Effect of Variations in Traffic Growth
  • Construction of Additional Toll way
  • Escrow Account
  • Insurance
  • Accounts and Audit

Part V: Force Majeure and Termination

  • Force Majeure
  • Compensation for Breach of Agreement
  • Suspension of Concessionaire’s Rights
  • Termination
  • Divestment of Rights and Interest
  • Defects Liability and Termination

Part VI: Other Provisions

  • Assignment and charges
  • Change in Law
  • Liability and Indemnity
  • Rights and Title over Site
  • Dispute Resolution
  • Disclosure
  • Redress for Public Grievance
  • Miscellaneous