The progressive disbursements for payment of work done during the construction of a building are a very delicate operation for the owner and the creditor. This requires expertise that involves coordinating several elements such as:
For this type of mandate, the notary must have the assistance of an expert to determine the elements required to complete the project and its cost, in order for the owner or creditor to always have sufficient funds to pay for the work to be completed.
Our firm has therefore developed a method in this regard. Thus, before the start of the work, it is necessary to organize a meeting with the main stakeholders, namely the notary, the general contractor, the project manager, the owner, and the financial institution. During this meeting, the procedure is established and our firm provides the project manager and the contractor with a template of the various documents they must complete and submit to us before each disbursement.
Therefore, it is important to consult a notary specialized in the construction field because: