If the loan is a construction facility you, as administrative agent will coordinate payment of progress claims against QS reports. This involves receiving the progress claim, reading the QS report, visiting the site (for good measure) and advising the syndicate members to pay the drawdown.

If the loan involves prepaid interest for the term of the loan there is no management to do other than to communicate occasionally with the borrower to see how the exit strategy is progressing. If there are milestones in the special conditions then Bransgroves Lawyers will follow these up on the appointed dates.

Any commercial decisions that need to be made, for example whether to grant extensions, enforce or sell, are made by the lender. Where the loan is a syndicated mortgage the syndicate members vote on any commercial decisions.

Step 10 - Loan Management