BANK MONITORING

One of the tasks of the REACON team is also the evaluation and analysis of investment risks which have an impact on the completion date, budget and quality of works. REACON specialists deal with comprehensive analysis and assessment of the project risks. They determine the probability of risk occurrence and its impact on profitability as well as the importance of the issue for the investment task. The evaluation and analysis of investment risks include an indication of any consequences caused by the occurrence of a specific event, as well as recommendations of corrective measures or ways to minimise the negative impact, and also verification and indication of the necessary measures to avoid the risk occurrence completely.

COMPREHENSIVE BANKING MONITORING OF THE PROJECT

REACON offers you comprehensive bank monitoring of your project. It prepares reports on the progress of construction assignments. Its services are addressed mainly to financial institutions, investment funds and banks crediting the project implementation.

The supervision, or bank monitoring, includes the preparation of:  initial report, monthly reports during the project implementation and final report when closing the project. Risks are estimated and analysed at each stage of the task implementation. During the provision of services, documents are verified in terms of formalities (decisions, resolutions, opinions), and also quality and progress of work verified against the agreed schedule and project finishing standards. The bank monitoring of the project ensures continuous control of the budget and project cost settlement as well as all elements influencing its change i.e. scope of works, additional, replacement or abandoned work.

REACON controls the contracts concluded by the client with the contractors, administrators, offices or other entities involved in the investment process together with the fulfilment of obligations arising after the conclusion of a given agreement. Regular visits to the construction site take place in order to make a true assessment of the progress and quality of the work performed. The conclusions and recommendations contained in the reports provide the financing entity with reliable information on the progress of the project and form the basis for the payment of consecutive tranches of financing.

PROFESSIONAL CONTROL INVESTMENT RISK ANALYSIS

When evaluating and analysing an investment risk, various factors are taken into account. Depending on the type of investment, these include formal, geographical, technical, environmental, historical and other factors that may affect the implementation of the project in accordance with the adopted objectives.

SPECIALIST ANALYSIS ASSESSMENT OF CONSTRUCTION CONTRACTS

REACON’s services also include analyses and assessments of construction contracts. A comprehensive and professional analysis contains, among other things, an assessment from the point of view of the provisions safeguarding the client’s interests, defining the subject of the contract and the parties’ obligations, as well as the application of prohibited clauses.

As part of the analysis regarding the contents of the agreement, possible amendments to the provisions are suggested, the introduction of which would have a beneficial effect both during execution and settlement of the construction contract. We also search for possible “legal traps”, i.e. provisions which may be particularly disadvantageous for the client.

Moreover, REACON offers full legal support to the participants of the construction process. It grants its support during negotiations and during the conclusion of individual agreements.

KEY PROCESSES | BANK MONITORING

• monitoring of project implementation (preliminary, monthly, final reports),
• verification of project documentation (formal documents, cost estimates, construction design, detailed design, standards, agreements with contractors and network administrators, etc.),
• project budget control, approval of contractors’ payments,
• analysis of risks affecting the completion date and budget of the project, proposal of corrective measures,
• control of entries in the construction logbook,
• visits to the site of the monitored project, participation in meetings with design engineers and contractors, preparation of photographic documentation,
• quality and safety control of the construction work,
• monitoring of the work progress against the approved schedule,
• analysis and evaluation of agreements concluded with contractors.