Valuer services and Surveyor Services

Description

Valuer GuidanceOverviewThe Development Bank of Wales (“DBW”) provides a range of secured lending products that support thefunding needs of property developers and investors in Wales; e.g. to help purchase, enhance and developproperties.A key part of DBW’s due diligence for each deal is an independent, professional valuation of the propertiesconcerned. The related valuation report must comply with the prevailing RICS global standards and beundertaken by a professional valuation firm that:1. Comprises multiple partners/directors;2. Holds the requisite qualifications and experience to comply with RICS standards in undertakingthe instruction;3. Maintains a sufficient level of professional indemnity insurance that satisfies both the minimumrequirements of their professional body and DBW’s specific requirements in respect of anyindividual deal; and4. Satisfies DBW’s mandatory exclusion questions set out in the Supplier Questionnaire, as updatedfrom time to timeFeasibility and Monitoring Surveyor GuidanceOverviewThe Development Bank of Wales (“DBW”) provides a range of secured lending products that support thefunding needs of property developers in Wales.A key part of DBW’s initial due diligence for each deal is an independent, professional feasibility reportassessing the key elements of the development project; advising whether these are deemed realistic andachievable. For deals that progress, DBW then requires ongoing, independent monitoring of the project(typically via monthly interim reports) to certify on-site expenditure and confirm whether the project costs,timescales, quality and compliance matters remain on track.All related reports must comply with the prevailing industry standards and be undertaken by aprofessional surveying firm that:1. Comprises multiple partners/directors;2. Holds the requisite qualifications and experience to undertake the instruction;3. Maintains a sufficient level of professional indemnity insurance that satisfies both the minimumrequirements of their professional body and DBW’s specific requirements in respect of anyindividual deal; and4. Satisfies DBW’s mandatory exclusion questions set out in the Supplier Questionnaire, as updatedfrom time to time.NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at https://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=147751.