Check out the financial stability of your fit-out partner.
Your office fit-out project will be one of largest financial commitments you will make. In addition you’re likely to be under severe time pressure to complete the project.
It goes without saying that the ramifications of your chosen partner ceasing to trade or who are unreliable, inexperienced or under resourced are unimaginable.
Bearing this in mind it’s imperative that you establish the full credentials and financial strength of your proposed fit-out partner to ensure that they are not only going to be able to complete the project, but also to see through the defects liability period and beyond.
Check how long they’ve been trading and ask for a copy of their published financial accounts.
Check that these have been filed at Companies House within the filing deadlines and that they have a clean, unqualified auditor’s report.
Another good test is to review their professional team, including auditors, bankers and lawyers to ensure that they really are as professional as they claim.
As a rule of thumb you should look for the net assets on their balance sheet to be at least three times greater than your project’s contract value. This will go a long way towards guaranteeing that your fit-out partner won’t fold and reducing project risk.
Check out our Dun & Bradstreet (D&B) Rating Number 1.
Maris Interiors LLP is the UK’s leading specialist in workplace consultancy, workplace optimisation, office design, office refurbishment, office fit-out and office relocation. Maris design and create world class working environments for occupiers throughout the UK and continental Europe. The Maris team of experts has extensive and in-depth knowledge of how good office design and fit-out can substantially improve business performance, save vast amounts of money and help retain and attract key people.
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