Lender's independent monitoring surveyor
Published March 2015
This guidance note has been developed to support the work of chartered surveyors who assess risks and provide technical advice to those who provide third-party finance on real estate developments: a lender’s independent monitoring surveyor.
This guidance note covers:
- project structure
- conflicts of interest
- technical due diligence
- financial close/contract completion
- practical completion and
- risk analysis.
This is part of RICS' Black Book, which is a collection of technical practice documents that covers all processes throughout the construction project life cycle. The documents are essential development tools for junior professionals working through their APC and useful guides to best practice for more experienced professionals.
A project is currently underway to review and update the Black Book content with the aim of producing a comprehensive new edition. Expected to publish in 2025, the new Black Book will comprise an overarching global professional standard, accompanied by practical guidance material.