Level 1
Level 2
Level 3
Level 4
Review for all the basic Lender reporting requirements.
Review for all the basic Lender reporting requirements.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
Review for all basic loan monitoring reporting requirements.
Review for all basic loan monitoring reporting requirements.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
List all conditions precedent within the scope of technical review that need to be met, and verify that these technical conditions are met.
Review all Lender’s requirements
of loan monitoring for the specific project. Inquire about recommended items not listed within scope.
Review all Lender’s requirements
of loan monitoring for the specific project. Inquire about recommended items not listed within scope.
Review all Lender’s requirements
of loan monitoring for the specific project. Inquire about recommended items not listed within scope.
Review all Lender’s requirements
of loan monitoring for the specific project. Inquire about recommended items not listed within scope.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Incorporation of land value and appraisal details for reference in initial Cost Report.
Basic takeoffs of Architectural Drawings. Cursory review of specifications if available.
Basic takeoffs of Architectural Drawings. Cursory review of specifications if available.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability). Cursory review of Civil drawings. Comparison with specifications.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability). Cursory review of Civil drawings. Comparison with specifications.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability) as well as some quantity takeoffs. Cursory review of Civil drawings. Comparison with specifications.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability) as well as some quantity takeoffs. Cursory review of Civil drawings. Comparison with specifications.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability) as well as some quantity takeoffs. Cursory review of Civil drawings. Comparison with specifications.
Architectural and Elemental takeoffs of Architectural and Structural drawings (pending availability) as well as some quantity takeoffs. Cursory review of Civil drawings. Comparison with specifications.
Receipt of Prime Contracts. Review for budget-related costs and basic requirements.
Receipt of Prime Contracts. Review for budget-related costs and basic requirements.
A determination of any contract exclusions and amendments which could affect the project budget. Attention paid to the supplementary conditions.
A determination of any contract exclusions and amendments which could affect the project budget. Attention paid to the supplementary conditions.
A determination of any contract exclusions and amendments which could affect the project budget. Attention paid to the supplementary conditions.
A determination of any contract exclusions and amendments which could affect the project budget. Attention paid to the supplementary conditions.
Assist with the preparation of the Prime Contract(s) prior to the award and engagement of the major Trade Contractor(s).
Assist with the preparation of the Prime Contract(s) prior to the award and engagement of the major Trade Contractor(s).
Review contracts for completeness, budget impacts, special conditions and ability to perform.
Review contracts for completeness, budget impacts, special conditions and ability to perform.
Review contracts for completeness, budget impacts, special conditions and ability to perform.
Review contracts for completeness, budget impacts, special conditions and ability to perform.
Review all Tenders and Quotations. Assist the Borrower and Construction Manager/General Contractor in executing all trade contracts.
Review all Tenders and Quotations. Assist the Borrower and Construction Manager/General Contractor in executing all trade contracts.
Review for budget-related costs. No Municipal Securities monitoring.
Review for budget-related costs. No Municipal Securities monitoring.
Review of all Performance Bonds, Municipal Securities and Personal Guarantees for their administration by the Lender and place in the budget.
Review of all Performance Bonds, Municipal Securities and Personal Guarantees for their administration by the Lender and place in the budget.
Review of all Performance Bonds, Municipal Securities and Personal Guarantees for their administration by the Lender and place in the budget.
Review of all Performance Bonds, Municipal Securities and Personal Guarantees for their administration by the Lender and place in the budget.
Discussions with the municipality for full understanding of municipal costs. Require all documents for review throughout construction.
Discussions with the municipality for full understanding of municipal costs. Require all documents for review throughout construction.
Receipt and review if requested by Lender.
Receipt and review if requested by Lender.
Include recommendations and concerns of summary of reports and assessments.
Include recommendations and concerns of summary of reports and assessments.
Include recommendations and concerns of summary of reports and assessments.
Include recommendations and concerns of summary of reports and assessments.
Include recommendations and concerns of summary of reports and assessments.
Include recommendations and concerns of summary of reports and assessments.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to confirm proper placement of concrete foundations.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to confirm proper placement of concrete foundations.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to allow architect to confirm proper placement of concrete foundations.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to confirm proper placement of concrete foundations.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to allow architect to confirm proper placement of concrete foundations.
Request initial land survey to assess budget ramifications. Receipt of Building Location Certificate to confirm proper placement of concrete foundations.
Comment on the adequacy of budget amounts for work items including contingency allowances.
Comment on the adequacy of budget amounts for work items including contingency allowances.
Where available, provide feedback to the Borrower regarding possible savings, overages and available supplemental trade quotations.
Where available, provide feedback to the Borrower regarding possible savings, overages and available supplemental trade quotations.
Work with the Borrower to properly tender the project to receive the most accurate costing data.
Work with the Borrower to properly tender the project to receive the most accurate costing data.
Meet with the Borrower monthly to discuss the budget, request detailed updates and provide real-time recommendations.
Meet with the Borrower monthly to discuss the budget, request detailed updates and provide real-time recommendations.
Receipt of accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Receipt of accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Receipt of accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Receipt of accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Preparation of in-house accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Preparation of in-house accounting documentation, substantiated by cleared cheques and invoices to confirm Borrower-injected costs to date.
Request schedule. Verbal acceptable.
Request schedule. Verbal acceptable.
Request schedule. Verbal acceptable.
Request schedule. Verbal acceptable.
Require schedule. Provided for entire scope of project in professional outlay.
Require schedule. Provided for entire scope of project in professional outlay.
Assist the Borrower in creating detailed construction schedule in
MS Project to be updated monthly in conjunction with budget and cash flow.
Assist the Borrower in creating detailed construction schedule in
MS Project to be updated monthly in conjunction with budget and cash flow.
Request from the Borrower. Comment for reasonableness.
Request from the Borrower. Comment for reasonableness.
Prepare independent cash flow projection for comparison against Borrower’s submittal. Must identify funding requirements on month-to- month basis.
Prepare independent cash flow projection for comparison against Borrower’s submittal. Must identify funding requirements on month-to- month basis.
Prepare independent cash flow projection for comparison against Borrower’s submittal. Must identify funding requirements on month-to- month basis.
Prepare independent cash flow projection for comparison against Borrower’s submittal. Must identify funding requirements on month-to- month basis.
Receive copies for review and inclusion with future reports.
Receive copies for review and inclusion with future reports.
Receive copies for review and inclusion with future reports.
Receive copies for review and inclusion with future reports.
Follow up and request copies of all permits and approvals on project. Comment on Borrower’s rationale for not providing, where applicable.
Follow up and request copies of all permits and approvals on project. Comment on Borrower’s rationale for not providing, where applicable.
Follow up and request copies of all permits and approvals on project. Comment on Borrower’s rationale for not providing, where applicable.
Follow up and request copies of all permits and approvals on project. Comment on Borrower’s rationale for not providing, where applicable.
Perform initial site review prior to approval of budget and subsequent site reviews with each Progress Claim.
Perform initial site review prior to approval of budget and subsequent site reviews with each Progress Claim.
Meet with Site Superintendent (or equivalent) to confirm work to date and anticipated work by next period.
Meet with Site Superintendent (or equivalent) to confirm work to date and anticipated work by next period.
Require all approvals and inspection reports for review against observed status of construction.
Require all approvals and inspection reports for review against observed status of construction.
Monthly meetings with Borrower, Construction Manager/General Contractor and Site Superintendent to discuss all issues on site.
Monthly meetings with Borrower, Construction Manager/General Contractor and Site Superintendent to discuss all issues on site.
Review available change orders and budget revisions. Include allowances where originals are not available.
Review available change orders and budget revisions. Include allowances where originals are not available.
Require all change orders and budget revisions to be personally reviewed prior to their acceptance and processing of next Progress Claim.
Require all change orders and budget revisions to be personally reviewed prior to their acceptance and processing of next Progress Claim.
Require (or prepare) all change orders and budget revisions to be personally reviewed prior to their acceptance and processing of next Progress Claim.
Require (or prepare) all change orders and budget revisions to be personally reviewed prior to their acceptance and processing of next Progress Claim.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Include received certificates
within report. Reference lending requirements versus certificate details. Comment on non-compliant details.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Investigate proposed major contractors to be used for the construction of the work to determine their competence and financial capabilities.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Review Notice of Project for reasonableness including project cost, location, prime contractor and duration. Review Clearance Letter for standing.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Complete review of Borrower-provided pre-sales and pre-lease summary and comment on compliance with Lender requirements and detail provided.
Request bank statement to confirm status of holdback account versus accounting and paid invoices for labour-related items.
Request bank statement to confirm status of holdback account versus accounting and paid invoices for labour-related items.
Require joint holdback account information for all major trades, ensure lien legislations are being followed for retention and release of funds.
Require joint holdback account information for all major trades, ensure lien legislations are being followed for retention and release of funds.
Request specific warranty numbers to be included within the report to reflect each individual unit.
Request specific warranty numbers to be included within the report to reflect each individual unit.
Request actual issued warranty certificates for individual units to attach to report.
Request actual issued warranty certificates for individual units to attach to report.
Request actual issued warranty certificates for individual units to attach to report.
Request actual issued warranty certificates for individual units to attach to report.
Attendance at monthly or bi-weekly consulting meetings. Prepare and distribute meeting minutes with executable tasks.
Attendance at monthly or bi-weekly consulting meetings. Prepare and distribute meeting minutes with executable tasks.
Project accounting completed by our in-house accounting department. Provided to the Borrower at the end of the project.
Project accounting completed by our in-house accounting department. Provided to the Borrower at the end of the project.
Preparation of payables list including cost code, vendor, invoice number, gross invoice amount, holdback (if any), net invoice, GST and payment.
Preparation of payables list including cost code, vendor, invoice number, gross invoice amount, holdback (if any), net invoice, GST and payment.
Includes payment certification to confirm payments which are to be issued by the Borrower’s or Lender’s solicitor.
Includes payment certification to confirm payments which are to be issued by the Borrower’s or Lender’s solicitor.
All invoices and cleared cheques reviewed for accuracy, reasonableness within the budget and change orders.
All invoices and cleared cheques reviewed for accuracy, reasonableness within the budget and change orders.
All invoices, cleared cheques and status of payments versus schedule of values in initial contract.
All invoices, cleared cheques and status of payments versus schedule of values in initial contract.
Ask for New Home Warranty or Prime Consultant.
Ask for New Home Warranty or Prime Consultant.
Ask for New Home Warranty, Prime Consultant as well as all municipal inspections.
Ask for New Home Warranty, Prime Consultant as well as all municipal inspections.
Require all field inspections to be received by the Borrower/Construction Manager/General Contractor or review while on site. Reviewed for responses from applicable parties on noted deficiencies.
Require all field inspections to be received by the Borrower/Construction Manager/General Contractor or review while on site. Reviewed for responses from applicable parties on noted deficiencies.
Provide at Lender’s discretion.
Provide at Lender’s discretion.
Required from the Borrower prior to each draw from the construction loan.
Required from the Borrower prior to each draw from the construction loan.
Required from the Borrower prior to each draw from the construction loan.
Required from the Borrower prior to each draw from the construction loan.
Required from all major trade contractors on the project to confirm payment to their sub-trades.
Required from all major trade contractors on the project to confirm payment to their sub-trades.
Provide at Lender’s discretion.
Provide at Lender’s discretion.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
To be signed and submitted by the Prime Consultant prior to the submission of each Progress Claim once vertical construction begins.
Request Accounting documentation confirming tax remittances and re- bates. Spot check for documentation periodically.
Request Accounting documentation confirming tax remittances and re- bates. Spot check for documentation periodically.
Prepare or review all remittances and rebate documents as they are filed and received. Confirm compliance via bank statements.
Prepare or review all remittances and rebate documents as they are filed and received. Confirm compliance via bank statements.
