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 […]
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 […]
You can insure yourself against many risks when it comes to property development, but builder insolvency is not one of them. Recent, high-profile insolvencies have made many developers and lenders nervous, leading to ever-increasing scrutiny on builder finances. Whilst no developer would appoint a builder they believe is at risk of going under, many have […]
When a builder submits a progress claim, they are not only asking to be reimbursed for costs incurred by their business, but also on behalf of the subcontractors and suppliers that have performed work on and/or provided/ paid for materials for the project with their own cash- only a portion of the progress payment is […]
In the construction industry, builder transparency is crucial for establishing trust and ensuring project success. IPEX for builders provides tools and strategies to achieve this transparency. As developers’ use of IPEX becomes more widespread and ultimately, a requirement from lenders, it’s only a matter of time before are asked to work under IPEX? And while […]
How Much Longer Will Reputation Alone Be Enough To Win Contracts? In the construction industry, understanding the risks of builder insolvency is crucial for long-term success. Frequent, high-profile insolvencies continue to make developers and lenders nervous, with the solution for many being to pay a premium for a bigger builder and rely on the ‘safety’ […]
The recent news of St Hilliers entering voluntary administration highlights yet again the biggest challenge facing the construction industry. With an unsettling trend of companies facing insolvency, it’s crucial to explore tools that could mitigate such risks. Industry Blow as ‘Danger Zone’ Claims Construction Giant Original Article published by The Urban Developer, Monday 5th February […]
You wouldn’t dream of starting a project without insurance against property damage, bad weather or theft, but developers remain unprotected against one of the biggest risks they face: builder insolvency. Only The Builder Knows Their True Financial Position; Why Should Developers and Lenders Be Forced To Guess? So, you can (and should) keep auditing balance […]
You wouldn’t dream of starting a project without insurance against property damage, bad weather or theft, but developers remain unprotected against one of the biggest risks they face: builder insolvency. Recent, high-profile insolvencies have made many developers and lenders nervous, leading to ever-increasing scrutiny on builder finances. Whilst no developer would appoint a builder they […]
