Common use of Project Specific Agreements Clause in Contracts

Project Specific Agreements. The Parties agree that from time to time the Commonwealth or a State may nominate high-priority Project(s) for Project Specific Agreements to be negotiated between the relevant Parties under this Agreement. Projects may be identified as candidates for a Project Specific Agreement based on project characteristics, such as financial or strategic value, complexity and risk, and that have the potential to deliver broader policy objectives in addition to the provision of new transport infrastructure. Project Specific Agreements may specify additional criteria or objectives for a Project consistent with, but in addition to, this Agreement. Part 6 — governance arrangements Enforceability of the Agreement The Parties do not intend any of the provisions of this Agreement to be legally enforceable. However, this does not lessen the Parties’ commitment to this Agreement. Review of the Agreement In accordance with Schedule E, Clause 23 of the IGA FFR, this Agreement is time limited. To assess the degree to which the agreed objectives and outcomes and/or outputs of this Agreement have been achieved, and inform decisions regarding the appropriate treatment following its expiry, an independent review of this Agreement will be scheduled to be completed approximately twelve months prior to its expiry. Variation of the Agreement The Agreement may be amended at any time by agreement in writing by all the Parties. A Party to the Agreement may terminate their participation in the Agreement at any time by notifying all the other Parties in writing. The Schedules to this Agreement will be varied at least twice a year, following the Commonwealth Budget and mid-year reviews, and at other times when necessary. Variations to the Schedules to this Agreement will be agreed in writing by the relevant Parties. Delegations Commonwealth Minister(s) with portfolio responsibility for infrastructure are authorised to agree and amend Schedules to this Agreement and to certify that milestones specified under this Agreement have been achieved, so that payments may be made. Respective State and Territory Ministers with portfolio responsibility for infrastructure and/or transport are authorised to agree and amend Schedules to this Agreement. Senior Commonwealth and State officials are authorised to agree and vary project milestones. Agreed project milestones are set out in IMS or equivalent system. The Commonwealth Minister(s) may delegate the assessment of project-based performance benchmarks or milestones and the authorisation of related Project payments to senior Commonwealth officials, having regard to the financial and policy risks associated with those payments. Breaches Breaches of any mandatory funding condition specified in the NLT Act or in an instrument made under sections 27 or 86 of the NLT Act may result in funding specified in the Project approval instrument for a Project being withheld or a refund being sought by the Commonwealth in accordance with sections 26 or 85 of the NLT Act. In the event that a Project has been varied without written consent from the Commonwealth, the Commonwealth may withhold future payments to that project or seek a refund on payments made to date. Breaches of the terms of this Agreement may result in the Commonwealth funding specified in the Schedules to this Agreement being withheld. Dispute resolution Any Party may give notice to other Parties of a dispute under this Agreement. Officials of relevant Parties will attempt to resolve any dispute in the first instance. If a dispute cannot be resolved by officials, it may be escalated to the relevant Ministers. If a dispute cannot be resolved by the relevant Ministers, it may be escalated to relevant First Ministers. Transitional arrangements Transitional arrangements for projects that commenced under a previous National Partnership Agreement or bilateral agreement are contained in the conditions column in the Schedules to this Agreement.