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1、APPENDIXHTOLLROADBOTMODELA.BOTContractStructure1.Theprincipalresponsibilitiesfortollroaddevelopmentincludedesign,construction,maintenance,tollcollection,arrangingfinancing,andlegalownership.Thebuild-operate-transfer(BOT)modelisthemostcommonapproachusedtoassignresponsibilitiesintollroadprojects.
2、BOTisabroadlydefinedtermthatincludesbuild-own-operate-transfer(BOOT),build-lease-transfer(BLT),rehabilitate-operate-transfer(ROT),lease-rehabilitate-operate(LRO),andsimilararrangementsthatareusedtodevelopnewfacilitiesorimproveexistingones.2.BOTstructureinvolvesthegrantofaconcession(sometimescal
3、ledanauthorizationoralicense)byaproperlyempoweredgovernmentalauthority(thegrantor)toaspecialpurposecompany(theconcessionaire).Undertheconcession,theconcessionairewouldagreetofinance,build,controlandoperateafacilityforalimitedtime,typically20to35yearsinAsia,afterwhichresponsibilityforthefacility
4、istransferredtothegovernment,usuallyfreeofcharge.Theconcessionairetypicallyassumeprimaryresponsibilityforconstructingtheproject,arrangingfinancing,performingmaintenance,andcollecttolls,whilethepublicsectorretainslegalownership.Inmostprojectsdesignresponsibilityisshared,withthepublicsectortaking
5、theleadinthepreliminarydesign(includingroutealignment,numberoflanes,interchanges,andotherhigh-leveldesignspecifications)andtheprivatesectorcompletingthedetaileddesign,subjecttogovernmentapproval.3.Theconcessionairewouldengageaconstructioncompany(thecontractor)toperformtheconstructionworksonthet
6、ermsandconditionscontainedinaconstructioncontract.Theconcessionairewouldalsousuallyengageanindependentparty(theoperator)tooperateandmaintaintheprojectonthetermsandconditionscontainedinanoperatingandmaintenancecontract.4.Theintentionwouldbethattheconcessionaireistoreceivesufficientrevenuesduring
7、theoperationalphase:toservicethedebtthatwouldbeprovidedbythebanksandfinancialinstitutions(theprojectlenders)forthedesign,developmentandconstructionofthetollroad;tocovertheconcessionairesworkingcapitalandmaintenancecosts;torepaythe
