Leading Commercial Builder Balmain & Co Weighs In… For every developer that is mandating the use of IPEX on their projects, there is another that would like the additional protection, but doesn’t think that their builder would agree. Is it unreasonable to ask a builder to operate under the condition that they can ‘only’ access […]
To make it even quicker & easier to gather critical subcontractor payment information from IPEX, we’ve now pushed 9 new product features into production; 1: Open Book’ View now includes more key payment information Open book developer view now includes Contract Value (‘Contract’), ‘Paid to Date’ & ‘Retention Held’ information on Project Summary page You […]
IPEX has (somewhat unintentionally) become the ‘go-to’ solution for managing tricky projects through to completion (distressed projects currently make up ~30% of all active IPEX projects) but the truth is, we’d rather the project not get into trouble in the first place. By the time payment issues are identified: Whilst we can ensure that any […]
A key challenge for property fund managers and their developmentpartners is that, even with best-practice financial checks and projectmonitoring processes, they have no way of confirming how much (if any)of each progress payment has been distributed to the subcontractors andsuppliers that formed part of the claim. This ‘blind spot’ is of particular concern given widespread […]
What if Your Builders Financial Position Changes After You Appoint Them? It’s been widely reported that lenders (both bank and non-bank) have stepped up financial due diligence in response to heightened construction costs and the ensuing builder insolvency risk. It makes sense but unfortunately, it’s no guarantee they (or those they are lending to) will […]
Whilst lenders have traditionally shied away from the developer-builder model, it is becoming increasingly difficult to get a project off the ground with a third-party builder in some sections of the market – this has forced lenders to reconsider their position. But although many lenders are now warming to the idea of funding developer-builder projects, […]
Leading Commercial Builder Balmain and Co Weighs In… For every developer that is mandating the use of IPEX on their projects, there is another that would like the additional protection, but doesn’t think that their builder would agree. Is it unreasonable to ask a builder to operate under the condition that they can ‘only’ access […]
The Check That Helps Developers ‘Step In’ Before Their Builder Enters Administration ‘Step In’ Rights Are Great In Theory – But Will They Protect You In Practice? It’s typical for developers to incorporate ‘step in’ rights into their head contract, giving them the right to pay subcontractors and suppliers directly should the builder fail to […]
Builders Can Now Access Their Entitlements Immediately (But Still Can’t Touch Anyone Else’s) IPEX has now released a third option for the payment of builder entitlements, removing the last commercially valid point of contention (without compromising the security of subcontractor and supplier entitlements). Until now, builders either received an agreed percentage of any subcontractor/supplier payments […]
Can You Pick A False Stat Dec From A True One? Despite being one of the core requirements for the release of funds by developers and lenders (not to mention, a legal document), the ‘stat dec’ has become something of a ‘tick and flick’ item in practice, carrying extraordinarily little weight. But this is not […]
