The QS certifies progress, not payment Cost to Complete remains the fundamental metric in construction funding risk reporting, but it has one structural limitation – it recognises costs when progress is certified & assumes that payment to subcontractors & suppliers follows. Of course, it often doesn’t. Although the QS assessment sits at the centre of […]
New look, new features – includes a sneak peak at the next wave of upgrades
Whilst lenders have traditionally shied away from the developer-builder model, it remains extremely difficult to get a project off the ground with a third-party builder in many sections of the market – this has forced lenders to re-consider their position. But although many are now warming to the idea of funding developer-builder projects, the underlying […]
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 […]
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 […]
Original article posted 10th December 2023, The Australian Business Review. Major developers and businesses are taking extra measures to reduce the risk of financial loss and exposure to a soaring number of builders going bust every day across Australia. ASX-listed BlueScope and real estate manager Frasers Property have moved to protect hundreds of millions of […]
