Progress Payment Reporting

If you’re about to commence construction on a new house or small development, your financier will need a few of our reports:

  1. Pre-funding Report (aka Initial Report)
  2. Stage Claim Progress Payment Reports

We can provide both reports at a competitive price with fast turnaround. We specialise in projects based in South-East Queensland, but also travel to North Queensland.

What we specialise in

  • Residential
    (up to 8 floors)

  • Commercial
    (up to 10 floors)

  • Industrial
    (up to 4,000sqm)

What we don’t do:

  • Health Care Facilities
  • Infrastructure
  • Residential over 10 floors in height

Financial institution clients

WRCQS is a family-run business. We have developed a strong clientbase over the years, and both my dad and I are long-term panel members for these financial institutions:

  • Commonwealth Bank
  • Westpac
  • NAB
  • Suncorp
  • St George
  • BOQ
  • RAMS
  • Aussie Home Loans

Types of Progress Payment Reports

There are two kinds of Progress Payment Reports: Stage Payment and Percentage Complete. Each has its benefits, and its downsides:

1. Stage Payment is great for the client:

  • Faster assessment by the QS = builder not held up
  • Fewer claims made = fewer bank fees

However, the builder can suffer from cashflow issues if there are delays in completing the next stage. We’ve seen many builders go insolvent due to poorly-managed cashflow.

Percentage Complete is great for the builder:

  • Making claims more frequently = better cashflow
  • If held up in one area, they can push ahead elsewhere and claim that work = fewer delays

However, it takes the QS a lot longer to assess, and so they charge more for the reports.

How to get Progress Payment Reports

Get in touch through our contact page, and we’ll reply back with the information we need.