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Contracts: Olympic Games 2012

Volume 488: debated on Tuesday 24 February 2009

To ask the Minister for the Olympics what penalties are payable under the contract with Lend Lease on early cancellation of the contract to construct and manage the Olympic Village contract. (256115)

The agreement with Lend Lease is structured in such a way that early termination would be a last resort option. Early termination is possible only under certain circumstances and, in the event that termination does occur, there are no specific penalties payable to Lend Lease. However, any costs and expenses necessarily incurred or contracted by Lend Lease for delivery of the services would have to be met by the Olympic Delivery Authority to the extent that they cannot be mitigated. The details of the contract terms remain commercially confidential.