In this open session, participants will discuss the ramifications of changing the terms of outcomes contracts during COVID-19 (e.g. renegotiate the contract; temporary/permanent switch to fee-for-service or grant; pause delivery; terminate contract). The session will begin with a presentation of the alternatives and the reasons why project stakeholders might pursue them. Participants are invited to offer their thinking as it relates to their own projects, what additional alternatives might be available, and how they are approaching transitioning projects into and out of ‘normal’ impact bond operations.
Welcome and introduction to session format
Clare FitzGerald, Research Fellow, Government Outcomes Lab
Alternatives for Impact Bond Projects During COVID-19
Nigel Ball, Executive Director, Government Outcomes Lab
Sam Magne, Knowledge & Learning Manager, The National Lottery Community Fund
Experiences from projects
Chih Hoong Sin, Director, Traverse
Jessica Hughes-Nind, Graduate Analyst, Social Finance
Karen Challis, Head of Education & Skills, Sheffield Futures
Discussion
Has anyone had different experiences from those described so far?
Are there any other considerations that have not yet been mentioned?
Do people feel Covid-19 will leave a positive or negative legacy for impact bond projects?
This note is directed towards those involved in live impact bond projects, as they think through the implications of the coronavirus crisis on their contracts. It explores six alternative options for contract management responses to Covid-19 for outcomes-based contracts.