Common Collateral Scope
- Schedule-of-values and cost-to-complete review
- Contract receivable collectability and dispute exposure
- Retention and progress billing reconciliation
- Borrowing base treatment for WIP and unbilled amounts
Industry Expertise
Construction and Engineering
Project-based borrowers introduce unique collateral considerations tied to work-in-progress accounting and contract performance. Our reviews focus on billing reliability, WIP discipline, and project reporting visibility.
Typical review themes
WIP analysisBilling reliabilityContract visibilityProject reporting
Key focus areas
- WIP reporting accuracy and percentage-of-completion analysis
- Underbilling and overbilling exposure
- Contract performance and change order visibility
Review Priorities
- Test job-cost reporting integrity across active contracts
- Evaluate underbilling and overbilling trends by project stage
- Review change order approval and backlog conversion reliability
- Assess project-level reporting controls supporting lender decisions
Typical Engagement Triggers
Moments when sector-specific visibility matters most.
These are the situations where lenders often need cleaner collateral confidence and tighter reporting context.
Rapid growth in project backlog and contract complexity
Increasing underbilling pressure or delayed collections
Large change order volume impacting forecast reliability
Credit renewal requiring focused WIP and contract analysis