LOAN MONITORING SERVICES

Primary Objective

Our Process

The success of any construction project hinges on meticulous planning and execution. To this end, a two-step process plays a crucial role in ensuring project viability and progress. Here’s a closer look at these pivotal stages:

Together, these two steps provide a comprehensive framework for navigating the complex dynamics of a construction project, from its conceptualization to its realization.

Initial Feasibility Report

– Begin with a comprehensive program validation.
– Understand financial conditions and thoroughly review plans, specifications, and contracts.
– Examine budgeting, from hard construction costs to soft indirect costs.
– Validate all permits, insurances, bonding, and cash flow projections for the project’s foundation.

Progress Draw Recommendations

– Confirm equity through sales deeds, invoices, and banking details.
– Stay updated with on-site visits and visual documentation.
– Regularly compare work progress against schedules, billings, and any scope changes.
– Ensure professional certifications are obtained and adjust budget considerations as the project evolves.

– Preliminary due diligence before construction to ensure that the project budget is reasonable and realistic for all categories of material and intangible costs, and to ensure that all necessary project documentation is in place (permits, warranties, insurance, plans and specifications, soil and environmental reports, contracts, project schedule, cash flow projections, etc.).

– Assessing the value of the work in place and the cost to complete before recommending each progress payment.

– Proactively reporting to all relevant parties any development that may negatively impact the project budget and schedule and suggesting ways to mitigate these risks.

– Substantial completion and the final report include all acceptances, the deficiency list, and the status of release from retention.

Our experienced staff is capable of providing these services from our strategically located offices in Montreal and Ottawa.

Keep your construction project on track and budget with LCO’s meticulous two-step loan monitoring process.