EJCDC P3-508: Public-Private Partnership Agreement (2014)

Public-private partnerships (P3) are a way for governmental entities to leverage the expertise, resources, and financing of the private sector to implement needed public improvements. Because developing P3 contracts from scratch can be very time-consuming and expensive, the Engineers Joint Contract Documents Committee (EJCDC), of which ACEC is a sponsor, recently published its new document EJCDC P3-508, Public-Private Partnership Agreement. 

EJCDC P3-508 is the first standard P3 contract form for use in the United States developed by a non-profit, industry professional organization. 

Under a P3 contract, the private entity is retained to design, build, finance, operate, and/or maintain a public improvement for a concession term that usually extends for many years. EJCDC P3-508 addresses these items, together with provisions on revenue to which the private entity will be entitled, revenue adjustments during the concession term, management, future improvements, and other topics relevant to P3 contracts, but is sufficiently flexible to allow users to tailor it to the specific needs of each separate P3 contract. 

Where enabled by law, P3s can be used for implementing improvements such as public utilities, transportation infrastructure, schools, and other public buildings and structures, and others. 

EJCDC created EJCDC P3-508 in recognition of the growing number of government entities seeking private partners in jurisdictions where laws and regulations allow P3s. While it can be used with a variety of design and construction or design-build documents, EJCDC’s Design-Build (D-Series) documents are well-suited for use in conjunction with EJCDC P3-508.