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Definitioner

NRA

The National Roads Authority

OJEU

All public sector tender competitions, above certain financial thresholds, must be published in the Official Journal of the European Union.

PPP Co.

PPP Co. or the PPP Company is the entity with whom the State enters a PPP contract. PPP Co. is usually a consortium of construction contractor (s), funders and a facilities management co.

CEB

The Council of Europe Development Bank

EIB

The European Investment Bank

VfM

Value for Money

Financial close

Financial close occurs when all the project and financing agreements have been signed and all the required conditions contained in them have been satisfied. It enables funds to start flowing so that project construction can start.

ITPD

The ITPD or Invitation to Participate in Dialogue is a document inviting selected parties to enter dialogue with a procuring authority with a view to submitting tenders for a project. It is the form of invitation used where a project is procured via competitive dialogue.

ITN

The ITN or Invitation to Negotiate is a procurement document inviting selected parties to enter discussions with a procuring authority with a view to ultimately submitting tenders for a project. It is the form of invitation used where a project is procured via the negotiated procedure.

PSB

The Public Sector Benchmark is a comprehensive risk-adjusted, whole life costing of a project under traditional procurement conditions, expressed as a single monetary figure.

PPP

A Public Private Partnership is an arrangement between a public sector authority and a private sector entity in which the private sector provides public works and/or services and assumes substantial financial, technical and operational risk in the project.

eTenders

eTenders is a central online facility for all Irish public sector contracting authorities to advertise procurement opportunities and award notices. (www.eTenders.gov.ie)