Bank Draw Reviews
Whether a project involves constructing a new building, building an addition or performing a tenant renovation, ECS can provide reviews for contractor pay requests, also known as “draw requests,” involving financial institutions. The goal of the Bank Draw Review is to document construction and design progress to be sure it aligns with progress payments to contractors, architects and engineers as work is completed. The project site and contractor documentation are reviewed and compared with actual construction progress to form an opinion regarding the validity of each request.
The following tasks are generally completed per review:
- We review the draw requests for the construction of the new building or tenant space
- We visit the subject site to perform observations of the construction progress. We typically visit the site within two to three business days of the request
- We compare progress to the construction documents and contractor pay applications
- We provide a summary report of our observations and findings including photographic documentation of the specific condition observed
- The report will be provided within 24 to 48 hours after the site visit.
Please contact us with any questions you may have around the bank draw process.