P

The bidder or tenderer selected by the principal following a tender process. The preferred bidder is invited to enter into a contract for the Works or Services the subject of the Tender.

A form of security provided by a party (typically the parent company of the Contractor) in favour of the Principal to guarantee the contractor's performance under the contract if the Contractor defaults.  (See also Deed of Guarantee, Undertaking and Substitution and Bank Guarantee).

These are the steps required for work to go ahead or be properly completed but do not form part of the work. The costs of preliminaries include temporary works, utilities, setting-out, testing materials, supervision, cleaning, removal of rubbish, handover and repairs during the defects liability period.

Contractual performance criteria, especially in relation to projects for the supply or delivery of Infrastructure, plant or equipment. Such criteria are useful for determining whether Works produced by a Contractor conform with the terms of the Contract.

Prior to an Arbitration the parties are entitled to meet with the Arbitrator to discuss preliminary or interlocutory issues. Challenges to the appointment of the particular Arbitrator can be brought during these conferences.

An Act that deals with security interests over personal property. The PPSA was introduced in 2009 to replace approximately 70 pieces of existing legislation throughout Australia that regulated security interests in personal property. The PPSA became effective on 30 January 2012. The PPSA introduces the Personal Properties Securities Register which provides a single national noticeboard of security interests in personal property. See Personal Property Securities Register.

A national online register of all personal property that has security interests registered against it. The PPSR acts as a noticeboard rather than as a definitive record of security interests in personal property. It is not a register of title or ownership of personal property. The Insolvency and Trustee Service Australia is the Australian Government agency responsible for administering the PPSR.

An agreement between a public agency and a for profit organisation. The skills and assets of each sector may be shared and the risks and rewards associated with the delivery of a Service and/or Infrastructure may also be shared.  Also known as a PFI - Private Finance Initiative.

Two or more persons carrying on a business in common with a view to sharing profits. Generally, partners are jointly and severally liable for debts and obligations incurred in the course of the partnership business. A partnership has no legal personality separate from its members.

Costs incurred by a party to litigation in enforcing or defending their rights.