Pre-Contract Due Diligence

Pre-Contract Due Diligence covers the period leading up to exchange of contracts and includes a legal, technical and financial review of the documentation to ensure that it is fit for purpose for the proposed transaction.  This phase typically includes:

• Review of legal documentation (with lawyers) including project agreement | development agreement | construction contract to check legal drafting around scope of works, roles and responsibilities, payments, valuations, completion, compensation events, access, insurance, warranties and orders of precedence between the documents is adequate
• Review of project team, roles and responsibilities,design interfaces and appointments
• Review of employers requirements | output specification | developers proposals | contractors proposals to check that the designs and specification are adequately detailed and there are no conflicts, errors or ambiguities with the documentation
• Review and benchmarking of delivery programme to ensure there is adequate time to complete the development
• Review and benchmarking of costs to confirm that there are adequate funds for the development and best value for money is being acheived; and Preparation of report ‘signing off’ documentation.

Post Contract Due Diligence

Having undertaken the initial due diligence and exchanged contracts then the monitoring phase commences.  Typically this includes:-

• Monthly / fortnightly site visits to
• Review progress against the agreed programme
• Review workmanship and compliance with the documentation
• Review QA procedures
• Attend monthly project meetings
• Assist where possible with the resolution of any issues
• Verifying the accuracy of valuations / certification prior to payment
• Review completion documentation and sign off the completed developmen; and Provision of ‘highlight reports’

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