Gateley Vinden work across the whole IF/ABL market, not just advising the Specialist Construction Finance providers
We work extensively with most members of ABFA (UK Finance) on all aspects of “Contractual” debt.
- Our instructions vary in size and complexity. We look to provide clarity, through insight into the nature of the Collateral, the impact of the underlying Contract, the management qualities, systems and internal procedures of the Borrower.
- We provide our view on the value of the work in progress and receivable, plus the collectability, all of which then enables us to validate the robustness of the forecasts, in particular the Cashflows.
- We look to provide targeted advice that gets to the heart of the issue in often complex circumstances, relying on our sector expertise, years of working with IF/ABL players and in particular, using our extensive practical knowledge and experience to provide suggested solutions, not just raising issues.
- Our expertise extends not just in respect of Construction debt but equally in all types of “Contractual” debt.
- We work with the full range of IF/ABL's from the Bank owned to the Independent's, assisting them to structure new facilities, implement the appropriate monitoring covenants and where necessary assistance with exiting/recovery.
- In addition, we look to add value to our clients' ultimate customer (Borrower) by assistance in the recovery of any disputed balance owed by the debtor, through Mediation, Adjudication and Arbitration when necessary.
FULL SERVICE SUPPORT – WHAT WE ACTUALLY DO
We will undertake an office-based desktop and/or on-site based pre–lending review, the purpose to advise on the initial deal structuring and prepayment level.
For our clients existing borrowers, we will undertake periodic desk-top/on-site audits to validate the ongoing robustness of the underlying security.
THE ON-SITE VISITS
Both these on-site reviews will involve understanding the nature of “what does the business do”, management structure, how do they manage the tender process, how do they manage the live contract, are the management processes in accordance with the underlying contract, at what point is the Receivable created.
Our written report will include recommendations on the pre-payment (IP), funding limits validity and collectability of debtors, retentions, WIP and recommendations of specific key monitoring KPI’s.
EXIT ROUTE PLANNING
Where appropriate, we will advise on exit route strategies, planning and execution.
Assistance in a recovery situation and where needed, using the wider Gateley Vinden services of Contract dispute i.e. taking this through Mediation, Adjudication or Arbitration process.