Glossary definition
Employer's Agent
A construction professional appointed by the developer to administer the building contract, certify interim valuations, and oversee the contractor's performance on behalf of the employer. Under JCT design-and-build contracts — the most common form used in UK residential development — the employer's agent fulfils the role of contract administrator.
Definition
A construction professional appointed by the developer to administer the building contract, certify interim valuations, and oversee the contractor's performance on behalf of the employer. Under JCT design-and-build contracts — the most common form used in UK residential development — the employer's agent fulfils the role of contract administrator. Lenders often require the appointment of an employer's agent as a condition of the facility, and their professional fees are included in the project budget.
See also
Closely related terms.
Monitoring Surveyor
An independent surveyor appointed by the lender to inspect the development site at regular intervals and verify that construction work has been completed to the required standard before each drawdown is released.
Quantity Surveyor
A construction cost professional who prepares detailed cost plans, manages budgets, and provides independent cost verification on development projects.
Professional Fees
The costs associated with appointing professional advisors on a development project, including architects, structural engineers, quantity surveyors, planning consultants, solicitors, and project managers.
Practical Completion
The stage at which a building project is deemed complete and fit for its intended purpose, even though minor snagging items may remain.
Further reading
Guides that touch this term.
Guide
How Does Development Finance Work? A Complete Guide for UK Developers
A ground-up guide to how development finance is structured in the UK, covering loan mechanics, drawdown schedules, monitoring surveyors, and what lenders look for in your application.
5 min read readReadGuide
Development Finance Application Checklist: Documents You Need
A comprehensive checklist covering every document lenders require for a development finance application, from development appraisals to contractor tenders and planning evidence.
11 min read readReadGuide
Legal Due Diligence in Development Finance: What Solicitors Check
Legal due diligence is the backbone of every development finance transaction. This guide explains what solicitors investigate, common issues that delay completions, and how to prepare your legal pack.
9 min read readRead
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