Draw down Procedure

B

BMD

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Does the situation described below still apply?

- The builder requests the money
- Architect certifies the stage,
- Architect gives the stage cert to the solicitor
- The solicitor requested the money from the bank,
- The bank sends the cheque to the solicitor
- Solictor makes a cheque out to me, I lodge it in my account and I pay the
builders with a personal cheque

I'm dealing with BOI
 
last year our procedure was builder requests money, architect certifies stage and we give cert to bank and they gave us money direct. We dealt with AIB. they lost a lot of forms during whole thing so we ended up telling builder to let us know well in advance of when he needed money .
 
We are with BOI and building at the moment, the process is as follows:
- we get a cert from engineer and send in to the bank
- I ring the solicitor and inform them of the amount requested under the cert and they send a request for payment to BOI
-we collect the cheque from the solicitor
 
BMD said:
Does the situation described below still apply?

- The builder requests the money
- Architect certifies the stage,
- Architect gives the stage cert to the solicitor
- The solicitor requested the money from the bank,
- The bank sends the cheque to the solicitor
- Solictor makes a cheque out to me, I lodge it in my account and I pay the
builders with a personal cheque

I'm dealing with BOI
Click to expand...

There are two Parties to the Contract, the Employer [you] and the Contractor, and it is administered by the Architect.
The correct procedure with all the checks and balances, is as follows:

The Contractor makes an Application for payment under the Contract.
The Quantity Surveyor assesses it and makes a Recommendation for Payment.
The Architect examines the Recommendation, Inspects the Works and - if satisfied - issues his Interim Certificate in favour of the Contractor in the requested amount with the words; -

"I hereby certify that the above amount is now due for payment by the Employers to the Contractor. "

The original Certificate is issued to the Contractor.
A copy is issued separately to the Employer.
The Contractor presents the origina to the Employer.
The Employer checks the original against the copy received from the Architect and in due course issues the payment in the certified amount.

====================

All that having been said-

I have heard that on some jobs where no quantity surveyor has been appointed, it has become the norm for the Architect to issue his Certificate directly to the Employer, who then pays the Contractor.

I have heard that Certificates have been accepted from Technicians, Engineers and persons who have provided architesctural services for ten years and more in Ireland.

Hope this helps. :)

ONQ.

[broken link removed]

All advice on AAM is remote from the situation and cannot be relied upon as a defence or support - in and of itself - should legal action be taken.
Competent legal and building professionals should be asked to advise in Real Life with rights to inspect and issue reports on the matters at hand.
 
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