Common use of Purpose of the Clause in Contracts

Purpose of the. “Government-to-Government” Approach Bermuda faces the challenge of financing the redevelopment of an airport that has less than 1 million annual passengers. Tenders for airport concessions with this volume of traffic are not seen in the international aviation market due to lack of investor interest and the costs of setting up and running a traditional procurement process. The case of Bermuda is compounded by declining passenger volumes which heighten perceived investment risks associated with the project. These challenges combined directly question if a purely commercial open-market tender would reach financial close or offer the Government of Bermuda value for money in the redevelopment of the airport. The CCC Team