Tracking the file if there are progressive disbursements

Steps that allow for better protection of the landlord and the creditor.

If you need more information on this service, please contact us
514 374-4303

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:

  • Verifying the notices received from subcontractors;
  • Obtaining confirmation from an expert of the progress of the work;
  • Checking for any adverse entries on the land register;
  • Obtaining partial or final receipts from all parties involved for the previous disbursement;
  • Controlling the deductions of the contractor and subcontractors;
  • Obtaining the list of amounts to be paid;
  • Issuing checks from the trust account to the various parties involved;
  • Verifying the updated budget.

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:

  • They are specialists in contract drafting;
  • They will verify the capacity of the recipient of the receipt;
  • They are required to have liability insurance;
  • They will complete the required documentation and perform verifications before making the progressive disbursements.
If you need more information on this service, please contact us
514 374-4303
Our partner