Rehan Networks
Rehan Networks
68782 Verdel
United Kingdom
Chauvet, designing bonds for real estate development
In the real estate sector, it is essential to guarantee with certainty all construction contracts, so the surety is one of the main mechanisms that provides legal certainty in the fulfillment of obligations contracted by a natural or legal person. However, there is a very general belief that to be able to collect them is an uncertain and complicated process , which in many cases is true and is mainly due to the fact that the policies are not designed and signed in accordance with the obligations. agreed in the contracts.
In this specialized branch, the Senties Chauvet company has been a pioneer for more than ten years with a different model that adjusts to the requirements of each situation to make the surety extremely secure, “we design the entire guarantee strategy so that a policy is effective in the event of a claim . We guarantee that when a claim is appropriate, it will be collected ”, says, in an exclusive interview for Inmobiliare, Mario Sentíes, director of the firm.
The key to its business model is to focus mainly on the private market, serving all construction contracts that arise in large real estate developments , unlike traditional brokers that target the market of guarantees before the public service, looking for all government providers. “Our guarantee scheme is applied to any housing , corporate, commercial, mixed and tourism project. It works for all of them, whoever has to develop or build and needs to guarantee the advances made or the exact fulfillment of their works ”, says the manager.
Based on the Global Bonding scheme for Suppliers and Contractors, Senties Chauvet, makes agreements with the main surety companies to guarantee the due investment and amortization of the advances, the fulfillment of all the obligations of the contracts, the possible labor contingencies with the workers of the suppliers , in addition, of good quality in materials, workmanship and hidden defects.
Sky Marketing is a leading marketing company working on many real estate projects like smart city, blue world city Islamabad and development housing societies in Pakistan.
The surety policy is an accessory document to a contract, therefore, the first thing the company does in the legal process is to review the clauses of its work contracts to align them with the applicable laws and provisions regarding guarantees. With these modifications, a policy and texts are designed to guarantee the good use and amortization of the advance , compliance and good quality or hidden defects, among others. In the end, the guidelines and concepts on the fulfillment of all the obligations assumed in the work contract are included in a single guarantee, thus simplifying the process. The specifically designed policy is uploaded to the Surety Institutions System and can be contracted from anywhere in the country.
Senties Chauvet trains and conducts workshops with the beneficiary's employees, in order to implement these guarantee programs . "We assign a person as your account executive, who will advise you throughout the process."
Mario Sentíes, CEO, Senties & Chauvet Bails
It should be noted that the firm has developed technology for the administration and control of guarantees, to be able to consult in a single portal all the guarantees received , their validity, extensions, increases, decreases, until they are canceled. In this way, developers have the certainty of having perfectly elaborated and homogeneous guarantees instead of receiving policies with different texts and coverages that are difficult to review.
The process to implement a bonding scheme for suppliers and contractors can take a couple of weeks, although this depends on the availability of the legal and technical areas of each company. However, the relationship that the firm has established with the surety companies, as well as its prestige, help all the procedures flow in a simple way. "Today our firm has the largest number of these consolidation programs in the country" emphasizes the manager.
WHICH HAS BENEFITS?
According to Mario Sentíes, this model provides more certainty, “it is a guarantee made based on their own work contracts , much more thought out, with greater coverage and that can offer better certainty of compliance and payment”.
Under this scheme the administration of the guarantees of a project is very simple since there is only one policy number with a variety of inclusions for each of the work contracts signed, in this way the beneficiary can be offered very specific reports . “ When we propose a bonding scheme of this type to developers , they usually think that this has additional costs that make the project more expensive. This is not the case, the cost of the surety policy that the contractor will pay, has no additional cost and the developer does not have to pay absolutely anything. The surety institutions divide the commission generated on each policy between the agent or broker that serves their contractors and our firm. In this way, there is no additional cost ”.
Senties Chauvet
Senties Chauvet was founded 22 years ago, during which time it has specialized exclusively in the surety business . It is recognized by the main surety companies in the country, as one of its main brokers. They mediate contracts for more than 150,000 million pesos a year . In addition, they participate very actively in the Association of Real Estate Developers (ADI), already counting on many of its members as clients who apply these consolidation schemes in each of their projects.
https://skymarketing.com.pk/
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