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For the purpose of this questionnaire, and in accordance with the International Monetary Fund’s definition (https://www.imf.org/external/np/sta/di/glossary.pdf), a foreign firm is a foreign-owned domestically incorporated enterprise (e.g. subsidiaries) in which a foreign investor owns 10 percent or more of the ordinary shares or voting power.)×
Material Adverse Government Action means any act or omission by the procuring authority or other relevant authority, which occurs during the term of the PPP Contract and which has a material adverse effect on (i) the ability of the PPPCo to comply with any of its material obligations under this PPP Contract and/or (ii) the cost or the profits arising from such performance.)×
A financial model is an analytical tool that allows the user to assess the financial robustness of the project by representing its expected financial performance, including cash flows, returns, etc. Not to be confused with a financial proposal.)×
To conduct the analysis on Ecuador, the Benchmarking Public Procurement team referred to Public Procurement National System Law dated 2008 , Public Procurement National System Regulations dated 2015, Regulations of the Organic Law National Public Procurement System- dated 2013, and "Estatuto Regimen Juridico Administrativo de la Funcion Ejecutiva (ERJAFE), 2002," dated 2015 found at: www.compraspublicas.gob.ec.
To conduct the analysis on Ecuador, for the Public-Private Partnerships Procurement topic, the team referred to Organic Law of Incentives for Public Private Partnerships, dated December 18, 2015, the Regulations of Regime of Public Private Collaboration, dated March 6, 2015, the Executive Decree No. 582, Organic Law of the National System of Public Procurement, dated August 4, 2008, Organic Law of Public Enterprises, dated October 16, 2009, Law for the Modernization of the State, Privatization and Provision of Public Services by the Private Initiative, dated December 31, 1993, Official Gazette Supplement No. 349, the Electric Energy Public Service Act, dated January 14, 2015, and the Telecommunication Act, dated February 10, 2015.×