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Supervision of bank financing
Financial and technical monitoring is a systematic and regular control process aimed at assessing the construction work carried out using bank-provided financing.
During the preparation of the loan agreement and the construction of the project, the Bank requires comprehensive information about the investment project. This information must come from an independent expert organization.
Financial and technical supervision provides an opportunity to promptly receive information about the current state of construction work while covering both technical and financial aspects. Conducting a construction financial and technical audit can only be trusted by specialized expert organizations that have experienced specialists in their teams.
How is the financial supervision carried out?
An important element of financial supervision is a regular inspection of the construction site, as well as an audit of compliance by the construction organization with regulatory and design requirements, including high-quality document management and recording of events in the construction process.
Why is supervision of bank financing important?
Financial oversight allows for the assessment of how efficiently a project’s financial resources are being utilized. It also involves analyzing the financial indicators of the construction organization and identifying potential risks that may arise during the project’s implementation.
Dishonest contractors may fail to comply with the terms of the contract, make unauthorized changes to project solutions, replace materials without approval, or inflate prices for materials or services. These actions can ultimately result in financial losses not only for the client but also for the bank. Financial and technical control is designed to prevent such situations by ensuring reliable oversight of the construction process.
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