Policy updateConcession Agreements2024 (Multiple Amendments)

HAM MCA revised: traffic risk insulation reconfirmed, TPC coverage rules tightened

What changed

Several 2024 amendments to the Hybrid Annuity Model concession agreement clarified that the concessionaire bears zero traffic risk (annuity is paid regardless of toll collection), but tightened the definition of qualifying costs in TPC. Changes also introduced milestone-linked annuity adjustment triggers tied to NHAI's independent engineer certification process.

Action to take

Review the updated IE certification checklist before submitting your construction completion certificate. Uncertified milestones can delay annuity activation by one payment cycle (6 months).

Other concession agreements updates

March 2024

BOT Toll MCA amended: termination payment cap raised from 100% to 115% of TPC

MoRTH amended the Model Concession Agreement for BOT Toll projects. The most contractor-significant change: NHAI's default termination payment is now capped at 115% of Total Project Cost, up from 100%. The amendment also clarified the mechanism for capacity augmentation requests initiated by NHAI after the concession is operational.

Policy moved. CivilBolt updates your contract checklist.

Every NHAI and MoRTH directive that touches contract administration shifts the compliance checklist. CivilBolt tracks which directives apply to your active packages and flags the deltas in your weekly review.

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