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Construction
With most construction projects there are risks of cost overruns, delays, contract disputes and even fraud. These issues can lead to a loss in profits, lost opportunities, hefty fines, a need for increased financing or even additional interest and operating expenses for the project owner. When these situations occur, the parties involved often find themselves at odds not only over liability but also over the quantification of damages. A forensic accountant with experience quantifying construction related damages is an integral part of the investigation team.
Advance Loss of Profits / Delay in Start Up
“Delay in Start Up (“DSU”) or Advance Loss of Profit (“ALOP”) insurance cover is an absolute necessity for large and/or complex construction or engineering projects, particularly those financed with structured debt. This insurance was designed to provide cover for the economic losses sustained by a project owner and the financing consortium as a result of insured delays in construction that results in a delay in the commencement of commercial operation. Accidents in construction may lead to slippage in the construction program, pushing back the start date of commercial operations, resulting in financial loss as expected revenues fail to materialise whilst expenses continue.
Construction Litigation
With most construction projects there are risks of cost overruns, delays, contract disputes and even fraud. These issues can lead to a loss in profits, lost opportunities, hefty fines, a need for increased financing or even additional interest and operating expenses for the project owner. When these situations occur, the parties involved often find themselves at odds not only over liability but also over the quantification of damages. A forensic accountant with experience quantifying construction related damages is an integral part of the investigation team.
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Construction Litigation
With most construction projects there are risks of cost overruns,...
Advance Loss of Profits / Delay in Start Up
“Delay in Start Up (“DSU”) or Advance Loss of Profit...
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Adding up Cost of Construction Delays
No one likes delays. Whether it’s a rain delay at a sporting event or a subway delay stuck somewhere beneath the city of Toronto, delays cost us time that we would rather have spent doing something else. Sometimes, however, delays...
