Glossary

The NDFA has compiled a glossary to help you understand some of the technical language it uses. Each word that is defined in this glossary should appear underlined throughout the website. When you come across an underlined term, simply move your cursor over the word to see a definition.

CEB - The Council of Europe Development Bank

EIB - The European Investment Bank

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)

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.

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.

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.

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 - 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.

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.

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.

VfM - Value for Money