Porchlight would like to make the following clarifications to this announcement (originally published on 19 January).
Consortia Arrangements
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.
Sub-Contracting
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.