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QS report for construction loan.

The quantity surveyor needs to certify to us a number of things including the start and end date of the building work and whether that will be enough time to complete the building work, when you have to pay the costs for the building work and the dates you will ask us to release part of the loan to you, whether you have (and will have) all the consents, permissions, and approvals you need to undertake the building work needed under law (like the Resource Management Act 1991 and the Building Act 2004) and there’s nothing in those consents that might negatively affect the Bank’s interest in the building and building work, the building work is allowed under local authorities’ plans, that the quantity surveyor is happy with the form and contents of the construction contract and budget for the building work including: 1) that the amount and term of your loan is enough for the building work to be done under the plans and budget we’ve approved 2) the budget and the building contracts for the building work are acceptable and comply with the building works and Construction Contracts Act 2002 3) the contractor that we’ve approved, project manager, consultants, subcontractors have the financial capacity (in relation to the contractor only), experience, skill, ability, personnel and resources to undertake the building work 4) there aren’t any unusual risks under the contract for the building work and the building work itself 5) any performance bonds and standard scale retentions are acceptable and any bonds are payable on demand by guarantors we’ve approved 6) that the plans for the building work haven’t changed and are the same as: any consents and documents used to obtain the consents, the plans the valuer used to value the property, any other information the Bank has relied on to give the loan 7) where the completed copies of the building work contracts, plans, design drawings and costing documents are held is acceptable and they are the same as the original documentation for the building that we’ve approved (or we’ve approved any changes) 8) the construction contract is acceptable in every way and the construction costs under it are fixed costs 9) the liquidated damages provision for any delay to complete the building work is appropriate 10) that you have enough public and builder’s risk insurance (including for consequential loss) and our interest is noted on the insurance policies 11) that the estimated building costs, fees and incidentals will be sufficient to finish the building work and no matter exists that might create additional cost, and any other matter that we ask the quantity surveyor to certify.