Author(s): Christopher Bovis
Concessions and public private partnerships are contractual agreements that are characterized by their high value, complexity, and long-term nature. The key elements of these agreements include granting the concessionaire the right to utilize and benefit from the works or services, transferring to the concessionaire the economic risk associated with the potential failure to recover operating costs and investments, and incorporating payment mechanisms that involve contributions from end users. The EU Member States have implemented the 2014 Concessions Directive using a framework that incorporates many similar techniques seen in domestic systems of EU Member States.