Loan project supervision Clause Samples
Loan project supervision. I. The loaner can periodically visit the borrower and loan project to understand loan project situation adopting following methods:
1. To listen to the introduction of the borrower to the loan project;
2. To look over the financial and accounting data and other relevant data, such as financial report, accounting document, and account books, etc.
3. To enter into the construction project sites for examination, investigate and check the tendering and bidding, engineering quality and construction figure progress of the loan project, etc.
4. To check the financial and capital situation of the borrower, acquaint with the situation from the employees, and listen to the opinions; The borrower shall cooperate with the loaner on the activities above.
II. If tendering and bidding the single project over 1 million Yuan under the contract, the borrower shall inform the loaner within 10 working days before the beginning of tendering and bidding activity. The loaner may conduct supervision and inspection on the activities and the borrower shall give cooperation. The ways of supervision and inspection are as follows:
1. To examine the tender announcement, invitation for bidding, tender document and bidding document, and check the qualification level and credit standing of the bidder;
2. To supervise the opening of tender and comment on tender, and sit in on the important meetings related to tendering and bidding matters;
3. To investigate and understand the situation and hear the opinions from the tenderer, bidder, tender agency, relevant competent administrative department and tender notary organization;
4. To review the report, contract and relevant documents of tendering and bidding conditions;
5. To examine on site, and investigate and check the performance of tender results.
III. The borrower shall invite the qualified engineering supervision organization for the supervision of engineering construction and equipment installation and debugging in accordance with relevant state stipulations of engineering supervision and industry requirements. As required by the loaner, the borrower shall provide relevant reports of engineering supervision in specified term.
IV. The borrower shall cover insurance for relevant construction projects under the contract in accordance with relevant state stipulations and industry requirements. As required by the loaner, the borrower shall provide relevant copies of insurance contract or insurance documents in specified term.
Loan project supervision. The lender may visit the borrower and the project and obtain information regarding the project in the following ways. The borrower should cooperate accordingly.
A. To listen to the project presentation given by the borrower;
B. Have access to the borrower’s financial reports on the project, accounting documents, accounting books, financial and accounting data and other relevant information;
C. To enter the project site to do inspection, investigation, verification of the project’s bidding, project quality and project schedule;
D. Verify the borrower’s financial and capital situation, to communicate with the staff and hear their views.