Last edited 23 Apr 2020

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CIOB Institute / association Website

Consortium

The Code of Estimating Practice, seventh edition, published by the Chartered Institute of Building (CIOB) in 2009 suggests that a consortium is:

The group of private sector participants who have come together for the purposes of tendering for a private finance initiative (PFI) contract. Also becomes a Special Purpose Company (SPC) or Special Purpose Vehicle (SPV). The generic term is project company, which is established by the preferred tenderer and is the contracting party for the project.

--CIOB

NB Glossary of procurement terminology, A guide for suppliers, Published by the London Borough of Richmond upon Thames in April 2012, defines a consortium as: ‘An unincorporated group of firms or individuals, often formed to tender for a contract with a view to forming a company or working in some other way in the event of winning.’

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