The Updated Standard Commercial Principles is a document that represents the current considered position of the State in relation to Partnerships Victoria risk allocation.
The updated principles replace the 2005 published version and apply to current projects. They do not apply retrospectively to contracted projects, and are most relevant to social infrastructure projects. The principles are flexible enough to allow for project specific drafting however any derogation from the principles will require approval of the Department of Treasury and Finance prior to the release of the project brief (RFT). For ease of comparison, we have published a clean and a marked-up version of the principles.
A summary table has also been provided in the document to assist practitioners in working through the main revisions to the principles.
Updated Standard Commercial Principles (April 2008) (PDF 2.06mb)