14 UGLOBAL IMMIGRATION MAGAZINE
dates to avoid situations of perpetual default , or choosing a company that has good supply contracts and enough inventory to conclude the works as adjudicated . At the time of the negotiation of the contracts it is also a good idea to add some clauses regarding the financial situation of the builder , their particular experience with the type of project , and the number of works he is developing at the same time . The possibility of intervention in the material selection by the investors is also recommendable . This will give the construction company an additional reason not to delay the works .
One other challenge that is reoccurring when speaking about construction or rehabilitation works is the inspection . More often than not , the investor will be abroad and will have neither the time nor the technical knowledge to inspect the works regarding the progression and the fulfillment of the contract – if all the materials accorded in the contract are being used , if the areas are met or if the quality of the materials is the one mentioned in the contracts . Given the technicality of such matters , it ’ s recommended for the investor to hire a third party that will be assessing the situation on their behalf - an inspection company focused on real estate matters is probably a good idea . The majority of the companies performing the construction / works usually accept a clause regarding the inspection of the construction site in the contracts and with that the investor will have another layer of protection - he will have the knowledge from an expert regarding the works and if , at any time , the contracts are not being fulfilled , the inspection will notice it sooner rather than later and it will be easier to fix and to avoid abuses or extra costs .
There is , also , the challenge regarding the credibility of the companies involved in the process and the decision of hiring . Coming from abroad , it is normal for the investor to not know much about the market - whether if the companies responsible for the construction or works are reputable , if they are dealing with the right person , etc . There are some ways to mitigate such adversity . Getting in touch with an
“ It ’ s recommended for the investor to hire a third party that will be assessing the situation on their behalf - an inspection company focused on real estate matters .
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experienced lawyer in this area of law , whom the investor can trust and maintain a good relationship with , is a big step because they will be their “ boots on the ground ” for all the matters that might arise during the process . In addition , it is important to get some references of previous clients and works concluded to understand the level of professionalism and results as well as to establish in the contracts the necessary guarantees to protect the investor .
THE ROLE OF DEADLINES
It ' s also important to note that the deadlines will be of extreme importance . Signing a contract for a construction