Project Monitoring and Third Party Services

Appleyards Consulting act as ‘Monitoring Surveyors’ on behalf of the Project Sponsor as Funder of a construction/development project, working with the borrower so he too sees value in our involvement.

The objective is to provide an initial "due diligence" report and subsequent interim "draw down" reports/certificates which summarise the status of the project in the context of all things detrimental to the Funder’s interest during the period of any loan.
 
The role includes the provision of specialist advice on contracts, procurement, insurance matters, collateral warranties, legal implications and statutory compliance.

Projects involve the monitoring of the design and construction teams as appointed by the Borrower and reporting on the "health" of each project in terms of risk to the Bank, which has a vested interest in the asset under construction.

Unless we are content with the general "health" of the project in terms of monies expended and quality of work completed, and certain formalities being in place, funds are not certified for draw down by the Borrower.

A key characteristic of our role is in mediating
the Bank’s sole interest in managing the risk associated with their loan facility (whilst balancing their need to maintain good working client relationships) and the Borrower’s desire to draw down funds at the earliest opportunity.

Works are inspected regularly in order to keep a "weathered eye" on progress and to either certify the prompt release of funding or report any "hiccup" objectively with advice on how to remedy a problem.

Without providing this mediating/monitoring role, the Bank/Borrower may otherwise wander separate paths with the potential to damage their often long-standing relationship, with the Borrower seeking finance from alternative sources and the Bank losing valued custom.

Our approach to this service therefore involves diplomacy and tact and a collaborative style that ensures both Bank and Borrower achieve their goals.

Additional Services:

• Pre start-up audit
• Best value assessment
• Mid-term project audit/health check
• Project recovery report