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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 Turkey, Benchmarking Public Procurement team referred to Public Procurement Law No 4734 dated January 22, 2002, Public Procurement Contracts Law No 4735, the Implementation Regulations on Electronic Procurement dated February 25, 2011, Regulation on Applications Regarding Tenders dated January 3, 2009, The Comminuqu� on Public Tenders dated January 28, 2009, Regulation on Inspection and Acceptance of Construction Works, Court of Disputes decision dated November 18, 1991.
To conduct the analysis on Turkey, for the Public-Private Partnerships Procurement topic, the team referred to Article 47 of the Turkish Constitution, Build-Operate-Transfer Model(BOT), Act No. 3996 on "Certain Infrastructure and Public Investments and Services with BOT Model" of 1996 and its New Implementation Decree of 2011, dated June 13, 1994, Build-Operate (BO), and Act No. 4283 on "Building and Operation of Thermal Power Plants with the BO Model" of 1997.×