This module will commence with an overview of the aims and objectives of International Project Finance transactions leading into an examination of some fundamental legal issues and risks which accompany a significant infrastructure project examining : the contractual nexus and roles and responsibilities , intercreditor transactions , the use of financial derivatives contracts and contracts of performance guarantees to manage risk including consideration of documentation terms , the background of insolvency risk and the use of securitisations to release profit as well as the issue of sovereign risk in relation to state participation in International Project finance.