Site Inspections
Commonplace to the approval and distribution of funds to the contractor on a construction project, is the monthly inspection by the project architect, owner, lender or surety. Prior to any disbursement, there are recognized risk management standards that are typically contractually defined and must be strictly adhered to by the billing contractor, owner and the project professionals.
In most cases, representing the owner, surety or construction lender, Broadlands, through its HMS Victory subsidiary, performs physical site observations to independently verify construction completion (percent complete) and/or the presence of materials on a job site. The Victory engineer generates a written and online project observation report prior to the release of any payment against the pending application for payment by the project lender (or funds administration company). All Victory reports are available to our clients online.