Finance

Adds fields to disclose the financing of the whole process and its individual contracts.

Sometimes, particularly in the case of Public Private Partnerships, contracts are financed using a range of instruments, including loans, grants, share issues and so-on. This information can be updated over the lifetime of the contract.

Legal context

In the European Union, this extension's fields correspond to eForms BG-611 (Contract EU funds) and BG-61 (EU funds). For correspondences to Tenders Electronic Daily (TED), see OCDS for the European Union.

Examples

Procurement process financing

{
  "planning": {
    "budget": {
      "finance": [
        {
          "id": "1",
          "financingParty": {
            "id": "1",
            "name": "Development Bank of South Africa"
          },
          "financingPartyType": "bilateral",
          "source": "Green Climate Fund",
          "assetClass": [
            "debt"
          ],
          "type": "loan",
          "repaymentPriority": "senior",
          "concessional": false,
          "resultsBased": false
        }
      ]
    }
  }
}

Public-private partnership contract financing

{
  "contracts": [
    {
      "id": "1",
      "awardID": "1",
      "title": "Public Private Partnership Agreement",
      "description": "Public-Private Partnership agreement entered into by and between telecoms promoter, together with national fibre infrastructure and the special purpose vehicle Mega Consortium Ltd",
      "finance": [
        {
          "id": "1",
          "title": "Primary senior debt financing agreement",
          "description": "Big Bank Corp retains the right to step in should Mega Consortium fail to comply with the repayment schedule for a period of 3 consecutive months.",
          "financingParty": {
            "id": "XX-FI-22222222",
            "name": "Big Bank Corp"
          },
          "assetClass": [
            "debt"
          ],
          "type": "loan",
          "repaymentPriority": "senior",
          "value": {
            "amount": 41000000,
            "currency": "USD"
          },
          "period": {
            "startDate": "2016-01-24T00:00:00Z",
            "endDate": "2021-01-23T00:00:00Z"
          },
          "interestRate": {
            "base": "LIBOR",
            "margin": 0.03,
            "fixed": false
          },
          "stepInRights": true,
          "exchangeRateGuarantee": false,
          "paymentFrequency": 30.4
        },
        {
          "id": "2",
          "title": "Alpha Holdings equity investment",
          "financingParty": {
            "id": "XX-XXX-11111111",
            "name": "Alpha Holdings Ltd"
          },
          "assetClass": [
            "equity"
          ],
          "value": {
            "amount": 6674000,
            "currency": "USD"
          }
        }
      ]
    }
  ]
}

Issues

Report issues for this extension in the ocds-extensions repository, putting the extension's name in the issue's title.

Changelog

2023-11-22

• Reorder fields in logical order.

2023-11-13

• Replace fields, to clarify semantics:
  • Replace Finance.financeType (financeType.csv) with Finance.financingPartyType (financingPartyType.csv) and Finance.type (financingArrangementType.csv). Notably:
    • 'publicBondIssue' is replaced by 'debt' in assetClass.csv and 'bond' in financingArrangementType.csv
    • 'supplierCredit' is replaced by 'vendor' in financingPartyType.csv
  • Replace Finance.financeCategory (financeCategory.csv) with Finance.assetClass (assetClass.csv), Finance.type (financingArrangementType.csv) and Finance.repaymentPriority (debtRepaymentPriority.csv). Notably:
    • 'equity' is replaced by 'equity' in assetClass.csv
    • 'seniorDebt' is replaced by 'debt' in assetClass.csv and 'senior' in debtRepaymentPriority.csv
    • 'mezzanineDebt' is replaced by 'debt' and 'equity' in assetClass.csv and 'subordinated' in debtRepaymentPriority.csv
    • 'grant' is replaced by 'grant' in financingArrangementType.csv
    • 'guarantee' is replaced by 'guarantee' in financingArrangementType.csv
  • Replace Finance.repaymentFrequency with Finance.paymentFrequency.
• Add fields:
  • Finance.concessional
  • Finance.paymentPeriod
  • Finance.resultsBased
  • Finance.source
• Update descriptions, for clarity:
  • Budget.finance
  • Contract.finance
  • Finance
  • Finance.description
  • Finance.period

2022-05-17

• Move Finance.relatedLots from the Lots extension

2020-06-04

• Review normative and non-normative words.

2020-04-24

• Add minProperties, minItems and/or minLength properties.

2020-04-17

• Add planning.budget.finance field.
• Fix description of Finance.financeCategory.

2019-03-20

• Set "uniqueItems": true on array fields, and add "minLength": 1 on required string fields.
• Make interestRate non-nullable (undo earlier change).

2018-05-08

• Make Finance.id required and non-nullable to support revision tracking and list merging

2018-05-01

• Add title and description to Finance.financingParty.

2018-01-29

• Make interestRate nullable.