Under the BOT, a third party, for example public administration. B, delegated to a private organization to design and build infrastructure and operate and maintain these facilities for a period of time. During this period, the private party is responsible for financing the project and is authorized to retain all revenues generated by the project and owns the entities under consideration. The facility is then transferred to the public administration at the end of the concession contract, without remuneration from the private entity concerned. Some, if not all, of the following parts could be involved in any BOT project: most concessions have a duration of 30 years or more. The extension of the concession can normally be renegotiated at any time during its lifetime when the operator plans to invest more in port infrastructure in exchange for an appropriate tariff reflecting changes that may have been introduced as part of the extension. In the absence of an agreement on the extension before the end of the 30-year period, the concession will end and the right to use and use port infrastructure and other assets will be referred to the port authority (or any other government authority), preferably on a fixed-price formula.