Surety Consulting & Support
When problems occur on a construction project to the extent where the Surety
has to become involved, immediate action is necessary to evaluate the
problems, work stoppage or impending defaults. Early involvement by objective
experts will provide an opportunity to evaluate a variety of remedies.
Whether reorganization and monitoring support will assist the contractor in
completing the work in an expeditious manner needs to be determined as early
as possible.
A complete assessment of the project status both financially and completion
wise will be necessary to facilitate the Surety’s decisions on how to
proceed. Tectonics, Inc. can provide these very necessary services and advise
in a timely manner.
The review and assessment process can support the Surety’s position from
build-out to legal action by providing a detailed history of the default or
events leading up to the default. Some of the necessary services will include:
·
Detailed estimates of the Cost
to Complete
·
Development of a detailed
schedule for project completion
·
Requisition history analysis to
determine the cost of work in place
·
The detailed Cost to Complete
will also produce a Value of Work in Place which when compared to the cost of
the work in place will provide a picture of the extent of the overall damages
that need to be recouped or litigated.
·
Review of change orders in place
and those in progress will complete the financial analysis of the project.
·
Procurement of a replacement
contractor if necessary
·
Project monitoring systems –
cost and schedule
·
Documentation for potential
legal proceedings
·
Complete claim analysis and
support system (see Claims Analysis and Support)
TECTONICS WILL SAVE TIME AND MONEY - WE GIVE YOU
RESULTS
