Porchlight would like to make the following clarifications to this announcement (originally published on 19 January).
Porchlight will only consider consortium arrangements where the parties have come together to form a Special Purpose Vehicle (SPV) to act as the sole contracting party.
The SPV will need to be a corporate entity – either as a company (limited by shares or guarantee) or a limited liability partnership. All the consortium members will need to have an ownership interest in the SPV – either by way of being a shareholder of a company or a member of a limited liability partnership.
Porchlight will not consider consortium arrangements where there is no SPV corporate entity in place, including:
- i) where a lead-contracting party contracts with Porchlight and then subcontracts the provision of the services to other consortium members.ii) the consortium parties are collaborating under a memorandum of understanding;iii) the consortium parties are operating under an unincorporated partnership governed by the Partnership Act 1890 or a limited partnership governed by the Limited Partnerships At 1907; oriv) any contractual joint venture between the consortium parties.
Porchlight re-iterates that sub-contracting arrangements of any nature will not be considered for this service. This includes any sub-contracting which a SPV, being a corporate entity, intends to engage in with a third party.