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#122:  Construction Loan Disbursement Pitfalls

NH Construction Law

A common feature of residential construction loans is the requirement for periodic inspections of the progress of work, usually by an independent inspection company hired by the bank, before disbursements are made. New Hampshire Savings Bank , 131 N.H. ” And such a voluntary undertaking is exceedingly rare.

Banking 40
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The Preconstruction Phase: Understanding the Process & Risks

Levelset

These drawings give the client something to picture and provide feedback on before moving to the next stage. It entails the architect creating a full package of drawings for the building that code enforcement will use for permitting. Permit and inspections. Pulling those permits once the drawings are ready is key.

Risk 52
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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

So, if you’re reading a broad-form policy, the causes of damage that insurance doesn’t cover — known as exclusions — should draw your attention. But for many types of work, restoration contractors have the right to file a lien on their property if they fail to pay. Exclusions: Perils that aren’t covered.

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A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?

Levelset

So, if you’re reading a broad-form policy, the causes of damage that insurance doesn’t cover — known as exclusions — should draw your attention. . But for many types of work, restoration contractors have the right to file a lien on their property if they fail to pay. . Exclusions: Perils that aren’t covered.

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How a Construction-to-Permanent Loan Impacts Contractors & Lenders

Levelset

The lender’s responsibility is to ensure: The construction loan is always in good standing The money that hasn’t been spent is still enough to finish the upgrades Draw disbursements are only released for work that has been completed. Learn more: The construction loan draw process explained. Failing to protect lien rights.

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7 Steps to Successful Project Closeout

Autodesk Construction Cloud

As the days pass and your project draws to a close, you’re ready to chalk this one up as a success and prepare for your next challenge. Key closeout documents like warranties, cut-sheets, lien releases, and facilities training documents come in all different formats, at different times, all towards the end of the project.

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Job Order Contracting – Best Practices Implementation

Building Information Management

Individual task orders generally include drawings, detailed unit prices, and reference specifications. The Owner reserves the right to inspect such off- site work at any. The Owner will perform the contract administration associated with the until work completion, including the final inspection and acceptance. Subcontract bid.