Forestry Certification Program

Project Finance Monitoring

SGS experts carry out the initial audit covering the introductory checks to examine the current state of the project progress and the project material resources. Likewise the production schedule is checked concentrating on node points and phases.

The initial audit is then followed by regular supervisions including:

• Supervision of purchased material and components, monitoring the material flow, production progress if it follows the schedule including the possible discrepancies definitions and solution proposals
• Verification if purchased material corresponds with the project in question
• Verification that the invoices submitted to the creditor corresponds with the project in question
• Approving the invoicing in the pre-defined way
• Verification that the overheads drawing corresponds with the payment schedule stemming from a costing formula
• Verification that factual finances utilization in particular phases (weeks, months) corresponds to the agreed credit payment schedule
• The regular reporting describing all above mentioned activities

Based on the regular reports sent to the creditor, the consecutive credit payments for the project are advanced.