Corporate / Group Training

Mastering Project Finance Documentation (In-House)

3 days
3,095 GBP
Next course start
Inquire for more information See details
3 days
3,095 GBP
Next course start
Inquire for more information See details
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Course description


Mastering Project Finance Documentation (In-House)

  • Spot various risksthroughout a project’s development and operation, and identify how they should be addressed in the various operational and financial contracts
  • Understand the relevant clausesin the contractual documents, and explain the interface between the actual conduct of the project and the contractual arrangements and obligations
  • Prevent the potential consequencesof failing to implement project documentation in a prudent way

Upcoming start dates

1 start date available

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  • On-site
  • Worldwide
  • English

Training content

Risk & its Management

  • The distinguishing features of project finance
  • The objective of managing risk
  • The six ways in which risk can be managed
  • The project finance structure overview, relationship of the parties

Governing Law & Enforcement of Rights

  • Conflicts of law
  • Two requisites of project finance contracts
    • reversal of plaintiff/defendant positions
    • avoidance of litigation to enforce rights
  • Alternative Dispute Resolution Procedure

Pre-Completion – Construction Contracts

  • FIDIC and other standards
  • Liquidated damages
  • Performance bonds and retentions
  • EPC and functional specification
  • Fixed price, lump sum, control of variations
  • Completion guarantees
  • Two-phase financing
  • Force majeure

Concession & Offtake Agreements

  • The origins of PPP and BOT
  • The pricing basis
  • The treatment of performance shortfalls
  • Termination, step-in rights
  • Direct agreements
  • Compensation
  • Volume risk – take-and-pay; take-or-pay; marketing agreements
  • Exclusion clauses

Financing Agreements

  • The loan syndication process
  • The term sheet
  • Particular features of project financings
    • the cashflow waterfall
    • the role of the project cashflow model
    • LLCR and ADSCR
    • cash sweeps
    • distribution lockups
  • The layout of the loan agreement
  • Key issues for Lenders:
    • material adverse change
    • drawdown stops
    • waivers and rectification
    • market disruption, increased costs
    • negligence – of Agent bank or consultants
    • disclaimers
    • legal opinions
    • non-exclusive jurisdiction
    • loan liquidity, sell-down, novation, assignments
    • enforcement implications
    • environmental liability
  • Key issues for Sponsors
    • conditions precedent to distributions to Sponsors
    • the potential to ‘hide’ recourse, how and why
    • the trigger for recourse
    • the quantum of recourse
    • 3-dimensional leverage, incl. maturity, grace, sculpting
    • majority lenders, snooze ‘n’ lose
    • removing individual financier participants, ‘yank the bank’, super majorities
  • Other key issues:
    • reps and warranties, repeating reps
    • sponsor lock-ins, change of control
    • sponsor insolvency
    • appropriations, partial payments
    • illegality and severance
    • the effects of Basel 3 and Solvency 2
  • Lender rights upon default
  • Reschedulings, restructurings


  • A classification of securit
    • mortgages
    • fixed and floating charge
    • liens and pledges
    • hypothecation
    • assignments
  • The limitations of security in project financings
  • Avoiding security:
    • use of the unincorporated joint venture
    • use of the bankruptcy remote vehicle
  • The role of a security trustee
  • Guarantees:
    • the common law treatment
    • variations, additionality, on-trust, continuing security, termination, ruling off, joint and several, conclusive evidence, indemnity, liability post-insolvency

Other Legal Issues

  • Insurances – CAR, ALOP, Marine, DSU, public liability
  • Political risk insurances – FX convertibility, insurrection, expropriation
  • Monoline insurance, credit enhancement structures
  • Security trust vs. security agency
  • Intercreditor agreements

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IFF - International Faculty of Finance

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As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage.  Established in 1991 we...

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