Bank Reports

It is common practice for most financial institutions to request a Quantity Surveyor perform due diligence assessments on proposed commercial, high density and larger residential developments. Typically, these reports consist of an initial assessment report and subsequent progress inspections that are carried out to protect both the client and the financial institution.

Initial Reports

The initial report will review all building documentation to ensure completeness and accuracy, identify any risks associated with the proposed development prior to the building works commencing. Documents to be reviewed vary with each financial institution, however will usually include the building contract, plans, approvals and permits, insurance details, cost trade breakup, cashflow projections, soil reports and overall project expenditure.

Progress Reports

The progress reports are carried out in line with the building contract. Documentation required to assist with the report include the progress claim, invoice from the builder, detail of any variations and a statutory declaration from the builder confirming sub-contractor payments have been made.

At Mintax, we understand the importance of completing these reports in a timely manner to ensure certainty for all parties involved. We communicate with the financial institutions, clients and builders to make sure all required documents are available and onsite inspections occur in a timely manner to provide a prompt, satisfactory outcome for all parties.