Building contracts usually provide for the contract to receive progress payments or installments commensurate with the value of work done. Payments may be made at regular stated intervals (i.e. monthly) or at identifiable stages during the progress of construction.

On receipt of the progress claim from the contractor, we assess and certify the amount for payment by issuing a progress payment schedule and then a payment certificate, which consolidates the value of work executed to date into one total.

Kwanto's monthly reporting service includes:

  • Regular site visits to assess progress
  • Monitoring and reporting on the project status
  • Detailed cost-to-complete summary
  • Identification of potential risk issues
  • Assessment of progress
  • Assessment of approved variations
  • Live cashflow tracking of the budgets

"Throughout the project I found Kwanto to be dependable and professional in their approach. You have worked hard on our behalf to encourage cost containment and accuracy. You have been flexible and willing to re-calculate constantly as the project evolved. You have been helpful and patient in taking the time to present the information to us in a way that we could follow , and so have helped us to have confidence in the process of what can otherwise be a large and dauntingly complex series of financial calculations. I would not hesitate to use Kwanto in the future. " Dr. David Pendergrast, Auckland Eye

Affiliations

NZIQSAuckland CouncilNZGBCProperty CouncilEco WarrantyMinistry of Business, Innovation and Employment