Surety Bond Quarterly - Winter 2014 - 18

feature

eJCdCstandard form
releases
first industry

public-private partnership agreement
OvER ThE PAST few years, public-private partnerships
(P3s) have been used with increasing frequency in the
United States to finance, develop, design, construct,
and operate and maintain both horizontal and vertical
construction projects that were traditionally delivered
solely by public financing and traditional design-bid-build
project delivery. It is no secret that P3 projects are more
complex, with more moving parts, than more traditional
project delivery methods. The agreements between the
governmental entity and the concessionaire, to date, have
been drafted as manuscripted documents, requiring long
development periods and extensive legal costs.
To assist governmental entities and private partners in developing P3 agreements for infrastructure
improvements and services, the Engineers Joint
Contract Documents Committee (EJCDC) has developed the first industry standard form P3 agreement. Released September 2014, the EJCDC® P3-508,
Public-Private Partnership Agreement, provides a

18

surety BoNd Quarterly | WINTER 2014

template that informs the parties of issues for consideration in finalizing a specific agreement for a publicprivate partnership.
"I think that EJCDC is aiming at
somewhat more garden variety projects than some of the bigger projects," explained Hugh N. Anderson,
Esq., EJCDC's retained legal counsel,
noting that the mechanism may be a
good fit for certain projects, including improvements to wastewater
Hugh N. Anderson treatment facilities. "A private entity
could come in and essentially take the
revenue stream that is available with
those sorts of facilities from the users and leverage that
into making improvements and designing these operations for the twenty-first century."
As a construction contract attorney, Anderson was
hired to provide legal services to the EJCDC umbrella



Surety Bond Quarterly - Winter 2014

Table of Contents for the Digital Edition of Surety Bond Quarterly - Winter 2014

NASBP Upcoming Meetings
2014-2015 NASBP Executive Committee
From the CEO: Education is everywhere and in everything we do
Practical Insights: What You Need to Know-Lease Accounting, A new standard is coming
Surety Up North
Training the Next Generation of Surety Talent
EJCDC’s New P3 Document
The Top 10 Things Public Owners Should Know About Surety Bonds
What's a Construction Company's Most Valuable Asset?
NASBP Virtual Seminars
School’s Back!
New NASBP Resource: Information map of advocacy issues
Meetings in Photos
The Importance of Cracking the “WIP” Monthly
U.S. Customs and Border Protection to Deploy eBond
NASBP Outreach Continues Throughout the Year
Index to Advertisers
Surety Bond Quarterly - Winter 2014 - cover1
Surety Bond Quarterly - Winter 2014 - cover2
Surety Bond Quarterly - Winter 2014 - 3
Surety Bond Quarterly - Winter 2014 - 4
Surety Bond Quarterly - Winter 2014 - 5
Surety Bond Quarterly - Winter 2014 - 6
Surety Bond Quarterly - Winter 2014 - 2014-2015 NASBP Executive Committee
Surety Bond Quarterly - Winter 2014 - From the CEO: Education is everywhere and in everything we do
Surety Bond Quarterly - Winter 2014 - 9
Surety Bond Quarterly - Winter 2014 - Practical Insights: What You Need to Know-Lease Accounting, A new standard is coming
Surety Bond Quarterly - Winter 2014 - 11
Surety Bond Quarterly - Winter 2014 - Surety Up North
Surety Bond Quarterly - Winter 2014 - 13
Surety Bond Quarterly - Winter 2014 - Training the Next Generation of Surety Talent
Surety Bond Quarterly - Winter 2014 - 15
Surety Bond Quarterly - Winter 2014 - 16
Surety Bond Quarterly - Winter 2014 - 17
Surety Bond Quarterly - Winter 2014 - EJCDC’s New P3 Document
Surety Bond Quarterly - Winter 2014 - 19
Surety Bond Quarterly - Winter 2014 - 20
Surety Bond Quarterly - Winter 2014 - 21
Surety Bond Quarterly - Winter 2014 - The Top 10 Things Public Owners Should Know About Surety Bonds
Surety Bond Quarterly - Winter 2014 - 23
Surety Bond Quarterly - Winter 2014 - What's a Construction Company's Most Valuable Asset?
Surety Bond Quarterly - Winter 2014 - NASBP Virtual Seminars
Surety Bond Quarterly - Winter 2014 - School’s Back!
Surety Bond Quarterly - Winter 2014 - 27
Surety Bond Quarterly - Winter 2014 - 28
Surety Bond Quarterly - Winter 2014 - New NASBP Resource: Information map of advocacy issues
Surety Bond Quarterly - Winter 2014 - Meetings in Photos
Surety Bond Quarterly - Winter 2014 - 31
Surety Bond Quarterly - Winter 2014 - The Importance of Cracking the “WIP” Monthly
Surety Bond Quarterly - Winter 2014 - U.S. Customs and Border Protection to Deploy eBond
Surety Bond Quarterly - Winter 2014 - 34
Surety Bond Quarterly - Winter 2014 - 35
Surety Bond Quarterly - Winter 2014 - NASBP Outreach Continues Throughout the Year
Surety Bond Quarterly - Winter 2014 - 37
Surety Bond Quarterly - Winter 2014 - Index to Advertisers
Surety Bond Quarterly - Winter 2014 - cover3
Surety Bond Quarterly - Winter 2014 - cover4
Surety Bond Quarterly - Winter 2014 - outsert1
Surety Bond Quarterly - Winter 2014 - outsert2
Surety Bond Quarterly - Winter 2014 - 39
Surety Bond Quarterly - Winter 2014 - 40
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