The Lenders’ Technical Advisor’s duty of care is to the Lenders financing the Project, to ensure that funding is delivered on time, keeping the project progressing, while assessing cost, risks and schedule.
Lender Technical Advisors play an important role in mitigating risks in projects. They present Technical Due Diligence report to support Lender’s approach to credit committees which includes review of project participants, their qualifications and experience for the project, review of EPC contract to check risks, review of proposed design for the scheme, review of the construction plan and logistics – benchmarking against similar projects. LTA also review the Operation and Maintenance proposals, the HSE policy, the QA plan for the scheme, review of project costs including benchmarking against similar projects. The LTA define risks such as delays, cost overruns, shortage of resources and other complications throughout the investment life cycle and underpin the strategy to mitigate such risks and provides an independent point of reference.