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The construction Completion Commitment is a proactive risk management approach offering comprehensive fiduciary safety and construction oversight. It can be used in lieu of or in conjunction with a bond and includes Integrity’s full suite of Construction Risk Management services.
For construction lenders, understanding construction budgets and maintaining payment alignment with progress is crucial. In the event of a major problem, our team of engineers, architects, and construction professionals can promptly intervene to course-correct and ensure project completion within the remaining budget.
Components of the Completion Commitment:
In case of a construction project shutdown, it’s essential to comprehend and record the present situation to reduce the effects on the property. A Construction Status Review comprises third-party observation, document examination, and stakeholder discussions. Customized to suit particular requirements, it can vary from recording construction progress to comprehensive assessments, encompassing contracts, subcontracts, lien releases, plans, specifications, submissions, inventory, project weatherization, and additional elements as needed.