IMS monitor
Tranche 3 drawdown recommendation
Lender-approved budget£1,450,000
Drawn to date£884,000
This tranche£186,000
Retention held on tranche(£9,300)
Recommended for release£176,700
You monitor the job for the lender
Somebody has to say how much of the facility should be released this month, and stand behind that figure when the money moves. The measurement is the same one the job runs on; the document is a recommendation, and it goes to a reader who was never on site.
30 days free, no card.
Every figure on the recommendation traces to a line in the record: the schedule, a visit, a photograph, a document. That is what standing behind the figure means.
The facility
The ceiling, the lender’s profit rate and the retention on each tranche are entered once, from the agreement itself.
The amber light below the schedule is the headroom check: when the remaining cost to complete presses against what is left to draw, the screen says so before the money does.
The evidence
Each visit is recorded against the tranche it supports, and the photographs are filed to that tranche rather than to a folder nobody reopens.
The drawdown recommendation prints the photographs assigned to ITS tranche - the reader was never on site, so the evidence travels with the figure.
The recommendation
The document the lender acts on is assembled from the tranche schedule, the visit record and the budget the lender approved.
Every figure on the recommendation traces to a line in the record: the schedule, a visit, a photograph, a document. That is what standing behind the figure means.
You are applying
You put the figure in, and it comes back cutYou value what was built, submit it, and defend the variations that came back priced at nothing. The difference between the two figures is yours to argue for.
Applying for paymentYou are certifying
You take the figure out, and you answer for itYou value the same work from the other chair, issue the certificate, and account for every line you removed. The figure has to hold when somebody asks how you got there.
Certifying paymentYou are doing both
There is no quantity surveyor, so it is youYou measure it, you apply for it and you chase it, between site visits, with nobody to hand it to. The dates run whether or not anyone is watching them.
Doing both yourselfYou are reporting
You report on a job to the lender funding itSomebody has to say how much of the facility should be released this month, and stand behind the figure when the money moves. The reader of that document was never on site.
You are hereThe client, the architect and the tenderer are not on this list. They are the people you let in on a link: they see the one document you sent them, answer it, and that answer is written into the record. No account, no licence, no charge, on every plan.
Straight answers on what the monitor mode holds, and what stays your judgement.
No. It keeps the record and prints the recommendation; the professional judgement and the signature are yours. The tool holds the terms, the schedule, the visits and the evidence so the figure you stand behind is traceable.
From the facility agreement, entered once: the net drawable ceiling, the lender profit rate per month, and the retention percentage held on each tranche's actual cost. Nothing is assumed.
Costs outside the facility are recorded in their own list, so the drawable sum and the recommendation stay clean of money the lender is not funding.
The retention held on the tranches is released, and at redemption the account closes with the full record behind it: every tranche, every visit, every photograph.
From the blog
Three pieces on reporting and the record, at length and without a sales pitch at the end.
Walking away does not mean downing tools, that is breach, it means finishing what you owe and declining the next job. The arithmetic of a bad client’s true cost, the difference between a hard client and a harmful one, and how to leave without a war.
Read nowThe handshake is an inch away and the ask arrives: knock a bit off and we are done. It works because you have already spent the evenings and can smell the job. The three answers that keep your margin, and the one response that trains clients to repeat it.
Read nowAnyone who answers with a percentage is guessing about your business with your money. Markup is two numbers wearing one name: overhead recovery, which is arithmetic from your own accounts, and profit, which is a decision. How to work out yours.
Read nowKeep reading
Put the facility terms and one tranche in, file the visit and its photographs, and print the recommendation the way the lender will read it.
30 days free, no card.
Rather ask first? Write to help@qscope.co.uk and you will get a reply within one working day, Monday to Friday.