- Volume 4 (2009), Issue 3
- Vol. 4 (2009), No. 3
- >
- Page 20
- p. 20
PFI/PPP Disputes (Part 2) IX. SPV sub-contracts: Equivalent Project Relief (EPR) provisions The purpose of EPR provisions is to provide the SPV with back-to-back obligations in its sub-contracts. These provisions include provision to the effect that payment will not be made by the SPV to its sub-contractors until after the SPV has received payment from the Authority. The amounts to be paid to sub-contractors by the SPV in respect of particular ma