We don’t like this system, instead we prefer to have a full breakdown of the materials required and these are purchased as required by the client (Giving them the saving often pocketed by the Builder)..work is inspected on a weekly basis and if satisfactory funds are released.
This gives the builder guaranteed cashflow and allows Surveyors to make sure everything progresses to time and standard.
There is a downside!! We do ask clients to confirm they have the funding in place to cover the cost of the project and if a stage payment is not made building work will stop.
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