Chinese name: BOT mode mbth: build-operate-transfer Literal translation: construction-operation-transfer is essentially the definition of infrastructure investment: the definition of infrastructure investment, construction and operation, development process, characteristics, advantages and disadvantages, advantages and disadvantages of BOT mode, participants, project sponsors, buyers, servers, creditors, construction sponsors, insurance companies, suppliers, operators, * * *. Specific methods, related books, BOT definitions and definitions * * * may limit the quantity and price of public goods or services provided by this institution, but ensure that private capital has the opportunity to make profits. The risks in the whole process are shared by * * * and the private sector. At the end of the concession period, the private institution will hand over the facilities to the * * * department as agreed, and hand them over to the designated department of * * * for operation and management. Therefore, it is more appropriate to translate the word BOT into "infrastructure concession". The books related to BOT mode are the narrow concept of BOT. BOT has experienced hundreds of years of development, and in order to adapt to different conditions, many variants have been derived, such as boot (build-own-operate-transfer), boo (build-own-operate), BLT (build-lease-transfer) and tot (transfer-operate-transfer). The broad concept of BOT includes these derivative varieties. What people usually say about BOT should be a broad concept of BOT. Various forms only involve different BOT operation modes, but their basic characteristics are the same, that is, the project company must obtain the franchise granted by the relevant departments. The term "build-operate-transfer" can't summarize the development of BOT mode. Development course In recent years, BOT, an investment and construction method, has been used in infrastructure construction in some developing countries and achieved certain success, which has attracted worldwide attention and been publicized as a new investment method. It was first proposed by Turkish Prime Minister Deozade in 1984. BOT is far from being new, and it has a history of at least 300 years since it appeared. /kloc-in the 0 th and 7 th centuries, the British Pilotage Association was responsible for the management of maritime affairs, including the construction and operation of lighthouses, and had the privilege of building lighthouses and toll vessels. However, according to ronald coase's survey, during the 65 years from 16 10 to 1675, the pilots' association didn't even build a lighthouse. At the same time, at least ten lighthouses were built privately. This kind of private investment in building a lighthouse is exactly the same as BOT. That is, the private person first applies to * * * for permission to build and operate the lighthouse, and the application must include the signatures of several ship owners, proving that the lighthouse to be built is beneficial to him and expressing his willingness to pay the toll; After the application is approved by * *, private individuals rent the land that must be occupied for the construction of the lighthouse from * *, manage the lighthouse during the franchise period, and collect tolls from passing ships; After the franchise expires, * * * will take back the lighthouse and hand it over to the Pilots Association for management, and continue to charge. By 1820, 34 of the 46 lighthouses were built by private investment. It can be seen that BOT mode is much higher than the administrative department in investment efficiency. Like many other innovations, BOT has the same fate and has gone through a period of obscurity after its birth. This period of obscurity is so long for BOT that people almost forget its early performance. Until 1980s, BOT was pushed onto the economic stage due to the need of economic development, and many people regarded it as a new thing. Contemporary capitalist countries have introduced strong state intervention on the basis of market economy. At the same time, economics also affirmed the role of "visible hand" in theory, and the market economy gradually evolved into a mixed economy combining market and planning. BOT has the mixed economic characteristics of combining market mechanism and intervention. BOT mode On the one hand, BOT can keep the market mechanism running. Most of the economic activities of BOT projects are carried out in the market, and the practice of determining the project company through bidding itself also includes the competition mechanism. As a reliable market subject, private institutions are actors of BOT mode, and they have complete property rights for construction projects within the concession period. In this way, the behavior of private institutions undertaking BOT projects in the process of implementing BOT projects fully conforms to the hypothesis of economic man. On the other hand, BOT provides an effective way for * *, that is, an agreement on BOT reached with private institutions. Although the implementation of BOT agreement is entirely the responsibility of the project company, * * has control over the project from beginning to end. In the three stages of project establishment, bidding and negotiation, the will of * * * plays a decisive role. In the performance stage, * * * has the right of supervision and inspection, and the price setting in project operation is also subject to * * *, and * * can also restrain the behavior of BOT project company through general BOT law. Advantages and disadvantages The advantages of BOT mode (1) reduce the financial burden of * * * *. (2) *** can avoid many project risks. (3) Simple organization and easy coordination with private enterprises. (4) The return rate of the project is clear, and it shall be executed in strict accordance with the bid price. * * * and private enterprises rarely have interest disputes. (5) It is beneficial to improve the operation efficiency of the project. (6)BOT projects are usually contracted by foreign companies, which will bring advanced technology and management experience to the host country, that is, it will bring more development opportunities to domestic contractors and promote the integration of the international economy. Disadvantages of BOT model (1) The public sector and private enterprises often need to go through a long process of investigation, negotiation and consultation, and even the early stage of the project is too long, which makes the bidding cost too high. (2) The risk of investors and lenders is too high, there is no retreat, and financing is difficult. (3) There are some conflicts of interest among the parties involved in the project, which create obstacles to financing. (4) The inflexible mechanism reduces the enthusiasm of private enterprises to introduce advanced technology and management experience. (5) During the concession period, * * * weakens or even loses control of the project. Participatory project sponsors, as project sponsors, should first share certain project development expenses as shareholders. After the BOT project scheme is determined, the proportion of creditor's rights and equity should be made clear, and the project sponsor should make a certain equity commitment. At the same time, special reserve funds should be listed in the franchise agreement. When the construction funds are insufficient, the shareholders will advance the insufficient funds themselves to avoid the project construction stoppage or delay. The voting rights of the project sponsors at the shareholders' meeting and the rights specified in the asset transfer clauses listed in the Franchise Agreement, that is, when * * * intends to transfer assets, shareholders have the second priority except creditors, thus ensuring that the project company is not controlled by hostile people and protecting the interests of the project sponsors. Buyer and service provider in the project planning stage, the project sponsor or project company shall sign a long-term product procurement contract with the product purchaser. The product purchaser must have a long-term profit history and a good reputation guarantee, and the period of purchasing products is at least the same as the loan period of BOT project. The price of products should also ensure that the project company can recover its share capital, pay the principal and interest of loans and dividends, and make profits. Creditors Creditors shall provide all loans required by the project company and pay them in the time and manner stipulated in the agreement. * * * When planning to transfer assets or mortgaged assets, creditors have the priority to obtain assets and mortgages; If the project company wants to raise new debts, it must obtain the consent of creditors; Creditors should get reasonable interest. The sponsor of BOT project must have a strong construction team and advanced technology to complete the construction task within the time limit stipulated in the agreement. In order to fully ensure the construction progress, it is required that the general sponsor must have good work performance and should have a strong guarantor to provide guarantee. After the completion of the project construction, acceptance and performance test should be carried out to check whether the construction meets the design index. Once the general sponsor fails to complete the task within the time limit stipulated in the contract or fails to pass the completion acceptance due to his own reasons, the project company will impose a fine. The liability of insurance company in BOT mode is the risk that each role in the underwriting project is unwilling to bear, including the risk of the builder, the risk of business interruption, the overall liability risk, and the political risk (war, property confiscation, etc. ), etc. Because these risks are unpredictable, the losses are huge, and the financial resources and credit requirements of insurance companies are very high. Ordinary small and medium-sized insurance companies cannot undertake this kind of insurance. Suppliers The suppliers are responsible for providing the equipment, fuel and raw materials required by the project company. Because the demand for fuel (raw materials) is long-term and stable during the concession period, the supplier must have a good reputation and strong and stable profitability, and can provide fuel (raw materials) for a period of time at least not shorter than the repayment period. At the same time, the supply price should be clearly indicated in the supply agreement, and the supplier should be guaranteed by * * * and financial institutions. Operators Operators are responsible for the operation and management after the completion of the project. In order to maintain the continuity of project operation and management, the project company and the operator should sign a long-term contract, and the contract period should be at least equal to the repayment period. Operators must be experts in BOT projects, have strong management ability and level, and have rich experience in such project management. In the process of operation, the project company should budget the operating cost of the project every year, list the cost plan and limit the total cost of the operator. For cost overruns or benefit improvement, there should be corresponding fines and reward systems. * * * * is one of the most critical roles for the success of BOT projects. * * * The attitude towards BOT and the support given during the implementation of BOT projects will directly affect the success or failure of the project. The relevant chapters of this book will explain in detail the role of * * * in BOT. Implementation step 1. The project sponsor establishes a special project company, and the special company reaches a project concession agreement with the host country * * * or relevant departments. 2. The project company signs a construction contract with the construction contractor, and the insurance company of the builder and equipment supplier provides guarantee. Professional companies sign project operation agreements with project operation contractors. 3. The project company signs a loan agreement with a commercial bank or a buyer's credit agreement with an export credit bank. 4. After entering the operation stage, the project company will transfer the project income to the guarantee trust. The guarantee trust will use this income to repay the bank loan. The specific mode is 1. BOT (build-operate-transfer): namely, build-operate-transfer. * * * This method is usually adopted when the project company obtains the concession to build a new project. 2.boot (build-own-operate-transfer): that is, build-own-operate-transfer. This way clarifies the ownership of BOT mode, and the project company has both management right and ownership during the concession period. 3.boo (build-own-operate): that is, build-own-operate. In this way, the developer builds and operates an infrastructure according to the franchise granted by * * *, but does not hand over the infrastructure to the * * * or public * * * departments. 4.Boost (build-own-operate-subsidize-transfer): build-own-operate-subsidize-transfer. 5.blt (build-lease-transfer): build-lease-transfer. That is, * * * entrusts an investor to build a project. During the operation period of the project, * * * has the obligation to be the lessee of the project. At the end of the lease period, all assets will be transferred to the public sector. 6 bt (Build-Transfer): Build-Transfer. That is, the house can be delivered immediately after the completion of the project, and payment can be made in installments according to the purchase price of the project. 7.bto (build-transfer-operate): build-transfer-operate. 8.iot (investment-operation-transfer): investment-operation-transfer. That is, to acquire the existing infrastructure, then operate it according to the concession agreement, and finally hand it over to the public sector. 9.Roo (reconstruction-operation-ownership): transformation-operation-ownership. There are brt, dBOT, dbom, romt, slt, mot and so on. Although there are different formulations and some differences in specific operations, there is no essential difference between its structure and BOT, so it is customary to call the above methods BOT. 10.LBO (lease-construction-operation): lease-construction-operation. 1 1.BBO (buy-build-operate): buy-build-operate. Title: New Development of International Investment and Financing Law: Research on BOT Legal Issues Author: Song Yang ISBN: 9787503666605 Pages: 3 12 Press: Law Press Pricing: 24.0 Binding: Paperback Publication Year: 2006-9- 1 Introduction ... This book has specially constructed BOT law. This paper makes an in-depth analysis of the economic and administrative legal issues in the financing and operation of BOT projects, and discusses in detail how to apply the law and how to remedy legal disputes when adopting BOT investment methods. At the same time, combined with China's legislative and judicial practice, this paper introduces and sorts out the operation and development of BOT investment mode in China, and puts forward the concrete idea of formulating China's special BOT law. The author pays attention to combining the basic theory of law with the concrete operation practice of BOT investment mode, and makes a profound, comprehensive and systematic discussion on the main and important legal issues involved in BOT operation. This has a guiding role in BOT legislation and practice in China. Author brief introduction Gao Lanjun, from Wafangdian, Liaoning, 197 1 12. 1994 graduated from the Law Department of Liaoning University with a bachelor's degree in law. 1September 1994 to1July 1997, studied in graduate department, Liaoning University, and obtained a master's degree in law, mainly studying and studying international politics and international relations. From June 65438 to July 0997, he taught in the Law School of Liaoning University, engaged in the teaching and research of international law. From September 2000 to February 2003, he studied in the Law School of Wuhan University and obtained a doctorate in law. At present, he is an associate professor at the Law School of Liaoning University, a tutor for master students majoring in international law, and director of the International Law Teaching and Research Section. He has published more than 20 academic papers in national and provincial journals such as Law Review, International Trade Issues, Essays on International Economic Law and Contemporary Law. Representative papers include China's Value Analysis of International Law, Obligation and Determination of International Law, Research on Guarantee in BOT Mode, Exercise of National Self-Defense Right and Combating Terrorism, and Development of International Organization Law in 2 1 Century, etc. Use BOT to build school logistics projects (such as hot water bath system, direct drinking water system, etc.). ) will greatly accelerate the reform of logistics service, so that the school can complete the construction of a perfect campus logistics service system at zero cost and get rid of complicated logistics management, thus putting superior resources into the core projects of the school such as teaching and enrollment, and improving the competitiveness of the school. In the usual central hot water BOT project, schools and enterprises invest in hot water systems with air source heat pumps or solar energy schemes, including the construction of units, pipelines and management centers. The use of hot water system is often managed by supporting IC card water control management system to recover the cost.