Bank Reports: Progress Claim Construction Report

A Progress Claim Report tracks how much has been paid to the builder while identifying how much the bank still needs to release.

Affiliate members of the Australian Institute of Quantity Surveyors

Who we've worked with

What is a Progress Claim Construction Report?

The most notable difference between a standard home loan and a construction loan is that a construction loan has a progressive drawdown.

With a construction loan, the full amount is not given upfront. Instead, the bank provides funds in stages as the build progresses. Builders submit progress claims to receive payments after completing defined portions of work.

Lenders usually require a progress claim construction report before releasing funds. This is prepared by a quantity surveyor who visits the site, reviews documentation like invoices, and confirms the builder’s progress matches the claim.

Progress Claims in Construction: Step-by-Step

Follow along as we break down the key steps of the progress claim and reporting process:

  1. Builder completes the agreed-upon portion of work.
  2. Builder submits claim and documentation to bank/lender.
  3. The bank contacts the surveyor to assess the claim.
  4. The surveyor visits the site, reviews documentation and assesses the progress.
  5. The surveyor prepares a detailed progress report.
  6. The bank reviews the report and releases payment upon approval.
  7. The builder receives payment to continue construction.

Our progressive reports provide trusted, independent verification at each stage.

Who Needs a Progress Payment Report?

Progress claim reports are useful for several parties in a construction project, including:

  • Homeowners – Ensure you only pay for work completed and keep payments on schedule. Getting a transparent report prevents any funds being released unfairly.
  • Builders – Justify claims to the bank with documented progress assessments from a neutral third party. This smoothes the payment process.
  • Banks and Lenders – Verify claims match on-site work before releasing construction loan funds. This mitigates risk and liability for the bank.
  • Project Managers – Track overall budget and timeline versus actual costs and progress. The reports act as an unbiased record of project status.

Having an independent quantity surveyor prepare the report provides trusted verification for all stakeholders.

So Why Choose Our Reports?

Our detailed reports align payments with the building contract and track the full project scope. Key sections include:

  • Project Contract Statement: Compares the claim to the original contract sum and notes any approved variations. It also highlights the total work value completed and the remaining budget. This ensures proper cost control.
  • Drawdown Claim: Tracks the amount already paid to the builder and the remaining funds to be released by the bank, keeping payments aligned to work progress.
  • Trade Summary: Analyses total construction costs incurred so far and remaining expenditure by trade/project area, enabling a cost analysis.
  • Cash Flow Forecast: Predicts future cash flow needs to finish the project on schedule and budget while allowing for proactive funds planning.

We also provide photos of completed work and an on-site assessment from our registered quantity surveyors.

What’s Included in Our On-Site Assessment?

To confirm the builder’s progress and justify the payment claim amount, our surveyors complete thorough on-site assessments. This includes:

  • Detailed review of all building works completed to date – Comprehensively quantifies progress
  • Photographic evidence of progress – Visually verifies reported progress
  • Comparison of works against official project plans – Checks for adherence to the original scope
  • Assessment of work quality and adherence to contract – Ensures quality standards are met
  • Identification of any defects or issues – Flags any problems to address
  • Estimation of percentage of completion for each project component – Breaks progress down to a granular level
  • Verification of claimed material costs against invoices – Validates incurred costs

Benefits of a Duo Tax Progress Claim Report

As members of the Australian Institute of Quantity Surveyors (AIQS), our reports adhere to industry standards for accuracy and detail. 

Key benefits include:

  • Ensuring payments align with building progress – No funds released for incomplete work
  • Tracking costs against the initial budget – Catch any cost overruns early
  • Justifying claims with documented on-site assessments – Unbiased verification to release payments
  • Predicting future cash flow needs for smooth completion – Proper budgeting avoids delays

Beyond progress claims, we offer full construction cost planning and estimating services. Our quantity surveyors provide: 

Note: We utilise best practices for systematic cost control.

Progress Claim Variations

Over the course of a project, changes often occur to the original plans. Any modifications that alter the initial construction contract value are termed “variations”.

Common reasons for variations include: 

  • Owner requested changes
  • Unexpected issues requiring design adjustments
  • Improvements in materials or methods
  • Regulatory requirements

Our payment schedule reports clearly track any approved variations against the original contract. This ensures the progress claims accurately reflect all completed works, both original and varied.

Choose Duo Tax for Your Progress Payments Report

Duo Tax brings experience, expertise, and independent oversight to your progress payment claims by offering:

  • Registrations with AIQS for accredited personnel
  • Decades of combined construction project experience
  • Detailed reports following best practices
  • Fair assessments protect all stakeholder interests
  • Smooth payments support timely project completion

Rely on us for transparent, unbiased progress claim reporting tailored for your build and construction contract.

Recent Projects

These are some of our recent projects that had their construction loan successfully approved with the help of our Duo Tax cost reports.

house & granny flat in East Lindfield

Private Lender

townhouse in Bentleigh East


house in Five Dock

Rams Home Loan

townhouse in Doncaster East

Rams Home Loan

townhouse in Doncaster East

Rams Home Loan

townhouse in Bentleigh East

Rams Home Loan

house in Wahroonga


townhouse in Bass Hill

Rams Home Loan

townhouse in Carina

Rams Home Loan

duplex in Mount Waverly

Rams Home Loan

townhouse in Jannali


townhouse in Dulwich Hill


Contact us today to organise your Progress Claim Construction Report!

Contact Duo Tax to schedule your progressive drawdown report. Our friendly cost consultants are ready to discuss your project needs.

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Sunday: Closed