You should consider the possibility of hiring your adviser on a staged basis, so that different terms may be applied to different phases of their involvement. The concession contract is the single most important document with a BOT structured project. Several key provisions should be included in the concession agreement as outlined below. The operation period must be long enough to pay off the project debt and provide a reasonable return on investment. Provisions may include an extension of the operating period should the Government default on it's obligations.
Safeguards are necessary to protect the project sponsors from default.
Regulatory issues must be addressed in the concession agreement. The concession agreement must address these factors and provide some way to mitigate these risks without abandoning the project. It may also be done with the public sector engineers if they have suggestions or requirements. Although initial negotiations were made earlier with suppliers and contractors, re-negotiations should take place so that construction prices, transportation costs, performance bonds, etc. are secured at the best possible price. After having developed a fair and reasonable price for materials and labour, it is necessary to review the implementation schedules and the commissioning of the project.