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They also help keep the bank informed about the progress of the work and any issues that come up. Web the draw schedule is a detailed payment plan for a construction project. For example, when an inspector finishes a draw inspection, their report helps confirm that the contractor completed their work before the bank disperses.
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We then provide photographs or a report to the firm or lender, who uses this documentation to ensure funds disbursed to the construction team are appropriate. Ensuring construction progress and protecting lender’s interests bank draw inspections are a critical aspect of construction projects that involve multiple disbursements of funds. For example, when an inspector finishes.
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Verification of permits, zoning, licenses, taxes, and insurance or bonding for the project and contractor. When an project is started the bank needs someone to verify completion of the different “phases” or percentages of the project. 48 hour rush orders are available for an added fee of $100. They also help keep the bank informed about the progress of the work and any issues that come up.
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