Summary.
Law 1 of January 6, 1999 governs the expansion of works under concession contracts and the conditions for amending those contracts. It adds provisions to Law 5 of 1988.
What it covers.
- The expansion of concession works.
- The costs and remuneration for additional works.
- The formalization and authorization of contract amendments.
Who it applies to.
- Concessionaires undertaking works.
- The Cabinet Council (Consejo de Gabinete).
Key points.
- A concession contract can be amended to extend or expand the works when the Cabinet Council (Consejo de Gabinete) finds grounds of public interest or extraordinary or unforeseen circumstances arise.Art. 1
- The concessionaire bears the cost of additional works, which must be of the same nature as those in the contract, and receives remuneration of the type and kind specified in the original concession.Art. 1
- Amendments form part of a single contractual relationship and are recorded in writing through an addendum or supplemental agreement, with the corresponding authorizations, performance bond endorsement, and fiscal stamps.Art. 1
- The law adds Article 13-A to Law 5 of 1988.Art. 2
Validity and changes.
- Law 5 of 1988Art. 1: adds Article 12-A
- Law 5 of 1988Art. 2: adds Article 13-A