An initiative introduced by the government in 1992 to encourage private sector businesses to tender to local and central government authorities for the provision of public infrastructure and services.Under PFI, the authority typically will enter into a long-term contract (sometimes referred to as the concession) with a special purpose company (ProjectCo). Under this contract, ProjectCo is required to provide services to the authority usually via a facility that ProjectCo has designed and constructed.Once construction is complete and ProjectCo starts providing services, the authority makes payments to ProjectCo on a performance basis with deductions accruing for performance falling below agreed levels. At the end of the concession, ownership of the asset will often transfer to the authority, although different solutions can be adopted, depending on the nature of the project.For further information, see the PFI Network website: .+ Private Finance Initiative (PFI).A form of PPP.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
pfi — interj. 1. (Pronunţat cu i prelungit) Exclamaţie (redând fluieratul omului) care exprimă: a) durere fizică; b) dezaprobare, nemulţumire; mirare. 2. (În forma pfiu; pronunţat cu u prelungit) Cuvânt care redă fluieratul sau şuieratul unui om, al… … Dicționar Român
PFI — may stand for: * Percy FitzPatrick Institute of African Ornithology * Popular Front Of India, a confederation of organisations in India * Private Finance Initiative, a method to provide financial support between the public and private sectors *… … Wikipedia
PFI — ist die Abkürzung für: Plattform für Innovationsmanagement Programmable Function Input, ein digitaler, Software konfigurierbarer Eingang von Datenerfassungsgeräten oft auch als Ausgang konfigurierbar Diese Seite ist eine Begriffsklärung zur… … Deutsch Wikipedia
PFI — Private Finance Initiative. HM Customs & Revenue Glossary * * * PFI UK US /ˌpiːefˈaɪ/ noun [U] ► FINANCE ABBREVIATION for Private Finance Initiative: in the UK, a system where private companies build and sometimes manage large projects such as… … Financial and business terms
PFI — abbreviation physical fitness index * * * abbrev Private Finance Initiative, a scheme whereby public works are financed commercially * * * PFI UK [ˌpiː ef ˈaɪ] US [ˌpi ef ˈaɪ] noun [singular] business british Private Finance Initiative: a system… … Useful english dictionary
PFI — Private Finance Initiative (Business » General) * Prison Fellowship International (Community » Non Profit Organizations) * Public Finance Initiative (Governmental » US Government) * Pay For Inclusion (Business » Positions) * Port Fuel Injection… … Abbreviations dictionary
PFI — ● ►en sg. m. ►WEB Pay For Inclusion. L idée est de devoir payer pour être ajouté dans une base de données en ligne. Amusant n est ce pas? … Dictionnaire d'informatique francophone
PFI — see private finance initiative … Glossary of UK Government and Politics
PFI — Publi filio … Abbreviations in Latin Inscriptions
PFI — abbreviation (in the UK) Private Finance Initiative, a scheme whereby public services such as the National Health Service raise funds for capital projects from commercial organizations … English new terms dictionary