Enforcement Rules of Act for Promotion of Private Participation in Infrastructure Projects Article 33

Upon conducting the private participation under the conditions stipulated in Subparagraph 3, Paragraph 1, Article 8 of the Act, the authority in charge shall specify the calculation formula of the construction expenses, the supervision of the construction quality, the procedures of acceptance inspection and the title transfer in its tender documents for the public and request the applicants to submit reimbursement plans for construction expenses.The reimbursement plans for the construction expenses specified in the preceding paragraph shall include the total construction expenses, interest accrued, interest rate, reimbursement period and terms of installments.In order to ensure the public welfare of infrastructure and the interests of the authority in charge, when a private institution participates in infrastructure projects in accordance with Subparagraph 6, Paragraph 1, Article 8 of the Act, it shall be based on the principle that the land required for infrastructure projects does not need to be subject to land use and project use changes, and the authority in charge shall state the following matters in the tender documents for the public:1. Development royalties equivalent to the scale of the case development; and2. Mechanism for calculating liquidated damages for early termination of contracts that is attributed to private institutions.