Struggling with funding compliance for your development project? Look no further
With two decades of experience in tracking project budgets, Watchdog also specializes in tailored solutions for construction financing compliance.
Our seasoned team collaborates with you to define and develop your compliance process. This involves a comprehensive review of all funding agreement requirements and an assessment of existing processes. Together, we craft a compliance approach that aligns with your unique funding needs and industry standards. To ensure nothing slips through the cracks, we create a detailed compliance checklist to guide you through each draw request.
We take a proactive stance in ensuring compliance throughout the project lifecycle. Our team establishes regular communication channels to review draft documents and ensure they meet draw requirements. We assist in gathering necessary documentation from subcontractors and vendors, simplifying the funding request process for you. Monthly site visits allow us to assess construction progress firsthand and ensure alignment with draw requests and the overall schedule. These visits include meetings with contractors and architects as necessary, fostering collaboration and transparency.
At Watchdog, we meticulously document project progress through photos, providing visual evidence of our compliance efforts. Our monthly summary reports offer a clear overview of pay application completion and adherence to funding requirements, keeping you fully informed throughout the project. Additionally, we provide support in discussions with funders regarding compliance and interpretations of funding requirements and industry standards.
Here’s a breakdown of our scope of services:
- Assistance in defining and developing your compliance process:
- Review of all funding agreement requirements and draw processes.
- Definition and confirmation of a compliance approach and process based on funding requirements and industry best practices.
- Development of a comprehensive compliance checklist for each draw request.
- Management of the construction draw process:
- Establishment and attendance of regular calls to review draft documents and steps to meet draw requirements.
- Support in collecting documents and materials from subcontractors and vendors to substantiate funding requests.
- Monthly site visit to review construction progress and alignment with draw requests and schedule, including meetings with contractors and architects.
- Documentation of progress through project photos.
- Monthly summary reports confirming pay application completion and compliance with funding requirements.
- Support in discussions with funders regarding compliance and interpretations of funding requirements and industry best practices.
From managing the construction draw to conducting monthly site visits, we’re with you every step of the way. To learn more about our tailored solutions for construction financing compliance, contact the experts at Watchdog today.
