An initial report will be prepared which will address issues such as building cost provision, the building contract, performance bond, level of contingency, contract completion dates, extent of PC and provisional sums.
A monthly financial report will be submitted to the lending institution and this will review the items covered in the initial report. The report will also address such issues as contract variations, value of work completed, review of programme and any contractual claims.
K.V. Arthur Associates Ltd will liaise with the developer to discuss any discrepancies between actual performance and planned performance on site and a detailed report will be included in the monthly financial report.