Funders

Funders of construction projects regularly need a third-party’s view on construction risks and liabilities, progress and draw downs in order to protect their position. Edge Consult can provide Funders with the project monitoring and audit of projects’ contractual position, liabilities, progress (or lack off) and the valuation of works completed to support authorisation of draw downs.

Edge Consult can also provide the full audit package covering contractual, programme and payment matters to give you the added comfort that your position is being protected.

As a funder are you:

  • Comfortable that robust contract documents are in place?
  • Confident the delivery team is fully aware of the risks, obligations and procedures in the contract?
  • Satisfied your client is acting in compliance with the contract?
  • Aware if the project is proceeding to cost and is on time with the correct drawdowns?
  • Satisfied with the provision of collateral warranties?
  • Confident that your position is protected in respect of project and contractual risks that may impact on successful delivery?
  • Satisfied records are available, should you need to become actively involved in the project?
  • Confident that everyone is fully prepared should a dispute arise?

Edge Consult provide:

Project reviews / Dispute Avoidance:

  • Reports on proposed procurement and contractual arrangements
  • Regular site visits to monitoring site progress with programme and completion date assessments
  • Payment drawdown approvals, cashflow reviews and monitoring the cost to complete
  • Developed and maintained risk registers

Problem projects / Dispute Resolution:

  • Initial high level reviews of projects
  • In-depth analysis of problems and risks impacting the project
  • Practical solutions to potential contractual problems
  • Programme analysis to establish realistic completion dates
  • Financial analysis to establish forecast outturn construction cost
  • Dispute resolution including full adjudication services

Edge Consult was requested by their client, a Contractor, to carry out a thorough review of its management systems and analyse the financial position of their projects to establish its business cash position.

Edge Consult found that the financial position was significantly worse than the client anticipated. Edge Consult provided a practical and clear Report to the client along with specific recommendations to develop in its day to day operation of the business.

Edge Consult worked alongside the client’s Specialist Accountants/Business Recovery Specialists, in pursuit of outstanding monies and maximising their contractual entitlement.

However, before the benefits of our review could be implemented, the Contractor’s business entered administration. Following this, Edge Consult were employed by the Insolvency Practitioner to pursue and maximise the company’s entitlements. In addition, we successfully defended it from significant counterclaims.