Documentation

Sometimes, particularly in the case of Public Private Partnerships, contracts are financed using a range of instruments, including loans, grants, share issues and so-on.

The financing extension provides a space to declare the finance arranged for a contract.

This is declared within the contract section, based on an understanding that this information is generally only disclosed following the signature of a contract. This information can be updated over the lifetime of the contract.

The finance building block includes:

  • Title and Description - for providing summary information about the finance
  • Financing Party - an organization reference to the id and name of an organization listed in the main parties array.
  • Finance Type - an entry from a FinanceType codelist
  • Finance Category - an entry from a Finance Category codelist
  • Step in arrangements and Exchange rate guarantee flags, to indicate whether either apply to this finance
  • Repayment Frequency - to give an indication of likely repayments
  • Period - a start, end date and/or duration for the finance
  • interestRate - an object consisting of:
    • base - a constant such as 0.1, or a known rate such as LIBOR
    • margin - the component added to this base to give the rate
    • fixed - a boolean for whether the rate is fixed or variable
    • notes - space to provide more information on the rate

This allows modelling of rates such as 'LIBOR+1%'.

Listes de codes

The 'financeType' codelist is based on the list on Page 57 of the World Bank PPP Disclosure Framework

The 'financeCategory' codelist is used to indicate (a) the rights attached to finance (in terms of equity, mezzanine and senior loans), and (b) to distinguish direct finance from guarantees.

Example

{
  "contracts": [
    {
      "id": "1",
      "awardID": "1",
      "title": "Public Private Partnership Agreement",
      "description": "Public-Private Partnership agreement entered into by and between telecoms promoter, together with national fibre infrastructure and the special purpose vehicle Mega Consortium Ltd",
      "finance": [
        {
          "id": "1",
          "title": "Primary senior debt financing agreement",
          "description": "Big Bank Corp retains the right to step in should Mega Consortium fail to comply with the repayment schedule for a period of 3 consecutive months.",
          "financingParty": {
            "id": "XX-FI-22222222",
            "name": "Big Bank Corp"
          },
          "financeCategory": "seniorDebt",
          "value": {
            "amount": 41000000,
            "currency": "USD"
          },
          "period": {
            "startDate": "2016-01-24T00:00:00Z",
            "endDate": "2021-01-23T00:00:00Z"
          },
          "interestRate": {
            "base": "LIBOR",
            "margin": 0.03,
            "fixed": false
          },
          "stepInRights": true,
          "exchangeRateGuarantee": false,
          "repaymentFrequency": 30.4
        },
        {
          "id": "2",
          "title": "Alpha Holdings equity investment",
          "financingParty": {
            "id": "XX-XXX-11111111",
            "name": "Alpha Holdings Ltd"
          },
          "financeCategory": "equity",
          "value": {
            "amount": 6674000,
            "currency": "USD"
          }
        }
      ]
    }
  ]
}

Problèmes

Signalez les problèmes concernant cette extension dans le répertoire ocds, en mettant le nom de l'extension dans le titre du signalement.

Journal des modifications

2019-03-20

  • Set "uniqueItems": true on array fields, and add "minLength": 1 on required string fields.
  • Make interestRate non-nullable (undo earlier change).

2018-05-08

  • Make Finance.id required and non-nullable to support revision tracking and list merging

2018-05-01

  • Add title and description to Finance.financingParty.

2018-01-29

  • Make interestRate nullable.