Thank you, Mr. Chair. Unfortunately I can't confirm with 100 per cent certainty that the Member's question about the term in the contract, whether it is there. The difficulty, of course, in multi-year capital projects, we often have to enter into these contracts with some expectations provided to the bidders and the contractors, and some assurance is made contractually. To my knowledge, I don't know if we've ever had the circumstance where we've had to rely on a provision like that in a contract. The contract does, though, have provisions respecting penalties that would be payable in the event of a termination, and that would include a provision to make whole the bidder for the monies that they've spent up to that date, plus a 10 per cent fee on top of that, and of course the very real likelihood that we would also be liable to make the contractor whole for any potential lost profits that they would have incurred for not being able to pursue other economic opportunities.
Mr. Goldney on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on October 19th, 2016. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
October 18th, 2016
Goldney
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