Services

The proper flow of funds to cover the costs of construction is critical to the health of a project. Construction Monitoring Services are typically performed monthly and include the following:

• Visit to the Construction Site by a Trained Professional
• Review and Analysis of each Payment Application
• Computer Analysis of the Contractor’s G702/3 Continuation Sheet for:
  • Budget Revisions or Corrections
  • Change Orders
  • Adequate Funds to Complete the Work
  • Calculation and Transcription Errors
  • Percentage of Completion of each item
  • Retainage Errors, Releases, or Revisions
  • Stored Materials (on and off site)
  • Proper Funding Credits to Subcontractors and Suppliers
  • Coordination of Funding among Bank, Owner and Contractor
  • Required Signatures and Approvals
• Review and Analysis of Lien Waivers and Releases
• Tracking and Proper Documentation of Stored Materials (on and off site)
• Comparison of Work to Required Progress Schedule to:
  • Confirm Target and Completion Dates
  • Review of Bar Chart, Pert Chart, CPM Schedules
  • Track any potential or actual Liquidated Damages
• Review and Analysis of Change Orders for:
  • Analysis of affect on Loan Collateral
  • Confirmation of Change Order Scope and Costs
  • Required Signatures and Approvals
  • Proper inclusion into the Contracts and Budgets
• Materials Testing Reports for:
  • Proper approvals of material adherence to Specified Quality
  • Notification and Tracking of low quality materials
  • Notification of Contaminated Materials brought from off site.
• Comparison of Work to Plans and Specifications
• A full written Report of our findings including:
  • Observations of our Site Visits
  • Discussion the items noted above
  • Photographs of the Site and Buildings during our visit.
  • Copies sent to Owner, Contractor, Permanent Lender or other interested parties