Lender’s Independent Engineer Report is primarily to safeguard the interest and minimize the risk of the lender, which can be a banker, investor, or any other financial institution. To understand its relevance, let’s find out more in detail.
With the financial expertise, a lender’s Independent engineer report is prepared to ensure the interest of the lender and protect them against various risks involved. This specialised service of independent engineer report is a thorough assessment of the project report. These reports are majorly required for real estate projects, SEZ, and other infrastructure projects.
The priority of an Independent Engineer Report is to provide the client with a detailed review of the proposed project’s documents and the evaluation of the technical design to validate the eligibility and other compliances of the project. Whether it is up to the mark to meet contractual expectations or not.
Request for Lender’s Independent Engineer Report is raised for any M&A Transaction, Construction Loan, Commissioning, or a Long-Term Loan, etc. However, these reports vary due to different components involved in multiple industries as per the specific requirements of the client and the stage of construction of the project.
A needs to visit the undertaking site at normal intervals, give a total appraisal of tasks and to give assessments to the lending organisations about the following:
Based on the current practices and services delivered by Lenders Independent Engineer Report service providers. Here are a few benefits that you should know about:
