The SPV concludes the project agreement, receives investor funds and contracts with construction contractors and O-M. All of these activities illustrate the key role of the VPS. The consortium will be aware of its key role during the tendering phase and in training within the SPV. As a result, it places an essential responsibility on the consortium to ensure that the P3 project is structured to protect its interests. The SPV is set up for only one purpose: the design, financing, construction and operation of the project. Due to the number of activities it conducts, the VPS is probably the main player in the PPP project. An ad hoc entity can be a „remote business from bankruptcy“ because the business is limited to the purchase and financing of certain assets or projects. Learn more about Wharton on special vehicles and why companies use them. Any member of the consortium (with the exception of certain contractors names) must commit to participate in the future SPV as a shareholder and to take a stake in that company. Shareholders hold equity in the shares defined and agreed in the shareholders` pact. The size of a stake can vary from very small (pin-point-equity) to large. Normally, it is the main project sponsors who together hold the largest amounts of equity.
The SPV is usually put in place shortly before the conclusion of the project agreement with the public procurement authority, i.e. for financial conclusion. The members of the consortium are usually SPV shareholders, as well as other shareholders, such as investors.  However, not all members of the consortium will want to be shareholders of the SPV. For example, a developer may decide that it does not want to be a shareholder in the VPS. Instead, it will decide to be part of the proposal as an contractor nominee.  It may focus on construction activity rather than interfering in all aspects of ppp implementation, as the members of the VPS wish. Addressing the structure and making a decision on this will be taken with full knowledge that it is the consortium that will be reformed as a project vehicle and that the sponsors will become the shareholders of this project vehicle. The founding documents of the SPV will include the „memory and statutes“ of the SPV and the shareholders` pact.
See Figure 6A.9. A Special Purpose Vehicle (SPV) is a separate legal entity created by an organization. SPV is a separate entity with its own assets Asset typesThe types of assets are current, long-term, physical, intangible, operational and non-operational asset types. Correct identification and liabilityLiability-Responsibility is a financial obligation of a company that, in the future, will fall victim to economic benefits for other companies or companies. Responsibility can be an alternative to equity as a source of financing for a company, as well as its own legal status.