Building construction is an ancient human activity. The need need for a controlled environment to moderate the effects of climate prompted the desired aspiration of Flyrate Excellence Limited to shelter the inhabitants of the earth through our unique building processes and plans such as “Flyrate Advanced Building Program”. This is a program set to subsidize the cost of building for individuals more especially the diaspora and co-operatives. This program enables people of the average class to achieve their desired/dream homes in a very easy and simple approach.
BENEFITS ASSOCIATED WITH FLYRATE ADVANCED BUILDING PROGRAM (FABP)
Definite Project Cost
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.
When a 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.
The cost agreed upon will not at any point change by inflation or increase in prices of building materials.
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.
In this plan, client will state exactly how rigorous he/she wants the construction to be, stating the various things in a desired home.
In essence, we help you achieve the home of your dream.
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 except if factored into client’s responsibility.
Client is allowed and/or availed 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 right to authorize bank for release of funds is reserved and paramount to client, and can never be under pressure or duress. It is in absolute subject to the acceptance of client.
In a situation where client can afford 60% – 100% 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, and paid 40% upon completion.
If deposit is up to 60%, Flyrate applies to Bank for funds at each milestone to ensure adequate supervision and judicious use.
The agreed construction cost is deposited in escrow with Bank and does not go to Flyrate directly. This assures Client that deposited funds are safe.
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 Bank is liable to the Client and Flyrate, as Flyrate is also liable to Client.
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 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.