Flyrate Advanced Building Plan is a development for prospective clients in the society who are either too busy, in diaspora or not able to manage finances for construction.
The project is considered capital intensive, therefore requires a defined cost which cannot be alteredirrespective of inflation or economic downsize.
If a building plan is chosen by client and approved, an evaluation is carried out to get the cost of construction from government approval level to finishing stage.
The client is notified of the total cost as will be stipulated subject to acceptance.
If the client accepts the total cost of construction to finishing stage, a binding agreement on the cost is drawn and distributed between Flyrate, Client and Guarantor.
Despite any economic state, the agreed cost cannot and will not be changed, it remains as agreed and signed.
This is one of the basic and essential merits of “Flyrate Advanced Building Plan”. It grants the client ample opportunity to get that dream home, and participate in the architectural thoughts.
Most people buy houses and live in it with little or no adjustment due to deprivation of choice.
In this plan, client will state exactly how rigorous he/she wants the construction to be, stating the various things in a desired home.
Client decides the idea of the architect as a matter of choice.
In essence, we help you achieve the home of your dream.
N/B: Any after thought when the drawing must have been approved amounts to an extra cost to the client, but must be within the stage when the after thought can be included in the construction. If the stage for the change is passed, we may not demolish or adjust except if the client agrees to bear the cost.
An estimated time of construction is given to client for the agreed construction.
In this regard, Flyrate Excellence Limited; poised to meet the timeline in service delivery, will portray its excellence.
A given time for the construction to start and finish will be maintained and ensured that it does not elapse.
N/B: This can only be affected by the client’s fund raising capability.
Client is allowed and/or availed with the time to spread provision of project cost.
If a building plan is chosen by client and cost given, it is possible for client to provide in escrow to Guarantor (Bank) the affordable percentage of the total cost.
The afforded percentage of the total cost will determine the stage/level of construction to be attained in the project.
The right to authorize bank for release of funds is reserved and paramount to client, and can never be under pressure of duress. It is in absolute subject to the acceptance of client.
In a situation where client can afford 60% – 100% finance of construction cost, it is deposited in escrow with bank and agreed that 60% is given to Flyrate to start and complete the construction to the finishing stage.
Given 60% funds to Flyrate is to be applied for to Bank by Flyrate at each milestone to ensure adequate supervision and judicious use.
N/B: Delay arising from Client’s inability to raise funds for completion for a period up to six months, gives the remaining construction cost a review to the current economic status which will be detriment to Client.
Client is relieved from the stress of having to run around because of incompetence.
The agreed construction cost is deposited in escrow with Bank and does not go to Flyratedirectly. This assures Client that deposited funds is safe.
An agreed total cost if available is deposited with Bank, and 60% is to be approved by Client to be released to Flyrate to start and finish construction.
Bank issues a guarantee to the Client for any percentage provided.
A given percentage can be provided by Client hence guarantee is given for any deposit.
In this contest, the Client is liable to the Bank and Flyrate, as Flyrateis also liable to Bank.
Flyrate Excellence Limited is a legal entity that can sue and be sued.
In the Flyrate Advanced Building Plan, Client is availed with time to attend to personal and other related issues instead of having to supervise or monitor construction.
However, Client can decide to be present or send a representative if need be.
The stress of construction and having to manage site activities is relieved of the Client.
Client is allowed to see the construction process and be rest assured that work is in good hands.
Client is assured that the materials to be used for construction must be durable and cost effective.
High technical standard must be regarded in the use of construction materials, and approved for safe construction.
Materials must be standard and must pass the test of time through wear and tear.