Contract Administration And Cashflow
Once the tender process has provided an agreed main contractor it is vitally important that a formal contract of work is implemented, once signed it will protect you and your chosen contractor making sure that both parties are fully aware of their obligations. Ambiguity between either party can be a point of contention and will ultimately pervert the main focus of delivering the project.
We work closely with your chosen legal representatives to formalise the initial contract terms, these are based on your own requirements and include any obligations that may be set out in your lease terms.
Discussions with your selected contractor would then enable us to identify the type of contract to suit both parties. Once your project has entered the construction phase we would administer this contract ensuring all parties comply with the stipulations within, we would also ensure a full audit trail for future reference.
Controlling the cashflow of your refurbishment is crucial and we would produce a detailed forecast to estimate payments. This cashflow document would be produced prior to contract and updated after valuations of works complete, once activated the cashflow releases a payment schedule of a real-time valuations ensuring that you only pay for finished items of work. Variations to the original scope of works are also captured in this process.
Your approval of the valuation allows us to release a valuation certificate to the contractor which can be invoiced against. This carefully monitored process gives assurances to both parties that once the valuation certificate is published it has been agreed by all parties.
