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MISCELLANEOUS
341
Accordingly, the investor shall make periodic investments for such
works. Payments shall be made to the investor periodically as determined
within the project agreement as consideration for the works and services
that are provided and the commercial areas that are operated.
Law No. 6428 provides that payment shall not be made before the
completion of the construction. However it may otherwise be stipulated
within the agreement that payment be received for completion at different
stages and partial delivery of the facility.
The determination of the price shall be made in consideration of the
characteristics of the investment, medical instruments, the immovable
and whether or not the services and the operation of the commercial areas
shall be assigned to the private party. The payment shall be made from the
working capital of the Ministry of Health or the central budget.
Thus arises an important opportunity for the investor as works are
realized without demand risk for a sum that is determined contractually.
Although the assignment of the operation of the services and commercial
areas is discretionary, it has been observed that lately the inclination is
towards the procurement of such services from the private sector.
Law No. 6428 distinguishes between obligatory and discretionary
commercial areas. Accordingly, some of the commercial areas must be
included within the health facilities whereas others may or may not be,
as determined within the agreement. Since health facilities are often
established outside of urban areas, it is a requirement that all kinds of
services be provided within the facilities. The provision, whilst responding
to this need, may also be deemed advantageous for the investor.
Another provision that may be advantageous for the investor is that
an increase equal to half of the Producer Price Index (“PPI”) and the
Consumer Price Index (“CPI”) shall be made in the price at term end.
There is also a provision regarding exchange rate disparity. Where the
investor has obtained financing in a foreign currency, if a change has
occurred in the foreign currency exchange rate at the end of a term which
is more or less than half of the total of PPI and CPI, the exchange rate
difference shall be calculated and added to or subtracted from the price.
This provision is also reassuring for the investor.