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Financial and quality monitoring

Financial and quality monitoring

IF THE INVESTOR REQUIRES AN INDEPENDENT ESTIMATION OF THE ACTUAL CONSTRUCTION STATUS

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IF THE INVESTOR REQUIRES AN INDEPENDENT ESTIMATION OF THE ACTUAL CONSTRUCTION STATUS

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SEVERIN DEVELOPMENT company is a certified construction expert specializing in financial, technical and construction audit of industrial and civil facilities for the leading Russian banks and financial groups, including the following:

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For the positive company's outcomes in construction audit, see Recommendation Letters from our customers – well-known Russian and international companies:

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Financial and technical monitoring of the project is carried out for creditor banks or investment companies interested in independent expert estimation of the construction project progress and status, confirmation of the resources specified by the borrower, economic performances, completeness and sufficiency of initial permit documents, construction deadlines and cost.


Construction monitoring objectives

Construction audit is carried out by a credit/investment company in order to check compliance with the following:

  • Official practices for acquisition and registration of rights and type of permitted use for the land plot;
  • Procedure for receiving a complete set of approvals and permits for design and construction according to applicable laws;
  • Pricing in construction;
  • Proper quality of construction and installation operations;
  • Compliance in the scopes of completed and paid operations;
  • Budgetary discipline;
  • Scheduled work deadlines.

Main financial and technical monitoring tasks:

  1. Familiarizing with initial situation.
  2. Determining the plot area suitability for construction purposes.
  3. Checking availability and compliance of initial permits and design estimates.
  4. Monitoring the construction progress including supervising and confirming:
    • Estimated construction cost;
    • Intended expenditure of the credit funds allocated for construction of the real property;
    • Conformity to economic and legal interests of the investor/creditor bank;
    • Investment/credit risks;
    • Compliance with the quality parameters and scope specified in the design estimates during the construction;
    • Conformity to the scheduled project design and construction time frames.
  5. Examining the state and residual value of the facilities under construction.

Financial and technical monitoring of construction can be performed at all stages of the investment project as required by the creditor bank (Investor):

  • Selecting the land plot and preparing the title documents;
  • Collecting initial documents for getting the required permissions;
  • Developing design documents and project appraisal;
  • Carrying out construction and installation operations;
  • Providing engineering equipment and tooling;
  • Setting to work;
  • Operational testing.

If financing of the construction project is allocated, and the project is under implementation, the financial and technical audit includes check/calculation of the estimated construction and installation cost for compliance with the design concept, legal documents, proper use of quotations, multiplying ratios and cost standards.


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