The 6 key stages to PFI bidding:
- OJEU Advertisement - All PFI projects are advertised in the Official Journal of the European Union (OJEU) by the individual public sector authority.
- Expression of Interest - Bidders submit an Expression of Interest to the public sector authority. They will then be asked to complete a Pre-Qualification Questionnaire (PQQ) to help determine their eligibility, experience and ability to undertake the project.
- Preliminary Invitation to Negotiate (PITN) - Next, the public sector authority invites a list of bidders (normally six to eight companies) to develop outline proposals and preliminary cost modelling for the project. This stage is called the Preliminary Invitation to Negotiate or Invitation to Submit Outline Proposals (ISOP).
- Final Invitation to Negotiate (FITN) - A shortlist, typically of three or four bidders, is invited to submit a response to the public sector authority's Final Invitation to Negotiate (FITN) or Invitation to Tender (ITT).
- Best and Final Offer (BaFO) - The public sector authority may then invite two bidders to submit a Best and Final Offer (BaFO) or it may skip this stage and proceed straight to selection of Preferred Bidder.
- Preferred Bidder - An intensive period of activity follows to arrive at a commercial and financial close to the project. This entails the final negotiation of all the contractual documentation needed to secure the necessary finance, the mobilisation of the various parties and ultimately the delivery of the final project.
Sound, proffesional relationships have .been developed since the partnership was concieved, with consort now considered very much part of the .multi-disciplinary team .assembled to manage the efficiency and effectiveness of our organisation