bugmenot:

@Brabus Are you a member of all or any of these organizations?

Kindly answer the above question directed to you.
Thanks.

bugmenot:



@Brabus
Are you a member of all or any of these organizations?

MrMcJay:


Kindly answer the above question directed to you.

Thanks.

PeoplesArmy:

@Brabus you were silent on allegation of going to remove materials from clients site and conniving with gateman. Can you confirm or deny this?

Sorry I can't provide answer to your questions. Does that help?

EgunMogaji:


Madam, I am what I am. An Ibadan made and grown boy. That I work so far away in America doesn't mean that I've lost my heritage

They do exactly what I wrote where I live here in the US, not sure of those other countries.

It's dangerous to drive a motor vehicle and hundreds of thousands will die today. This is not stopping any of us from jumping into our car and driving. An analogy.

So maybe an astute builder will introduce this system in Nigeria. Maybe introduce an escrow company as an in between or a bank guaranteed loan.

It can work if we put measures into place to make it work. I built another house in Texas also with only a $500 deposit and to my complete customization. Builder could not meet my timeline towards the end. Due to contract that we signed they paid of my house rental for 3 months and when they still couldn't finish it in time they made an offer, mov in now and have work around us or pull out. We opted to pull out.

I think Brabus is on to a good thing, he is now wise enough to include Lawyering up in his contracts. That this was missing is alarming to me. Why would three siblings, one of whom is in the UK and another that lives in the capital of Nigeria will enter into a N24m real estate deal without a Lawyer befuddles me.

Quoting myself to continue..

I ran across this thread

https://www.nairaland.com/2519031/builder-needed-estate-project-ibadan

And it is talking about some sort of bank guaranty instrument, maybe that's the missing link for the scheme I am proposing to work in Nigeria.

3strike:
smh. Customer Service Sucks in Nigeria and we sure have a long way to go with people's skills....Simple "Am sorry" how can we make amends that will put smiles back on your face should do or am i missing something here again?

Anyways Person wey mad man kill him mama when he see mechanic from afar e go run......#unknown.

packaging no dey sell for myside again

True talk. Bad customer service too much for this country.

Brabus thinks everything is about talking. No, there are times you keep quiet for peace sake. Or better still say something like this and the person will gladly keep quiet too. "we have improved in all our dealing and things like that are now being checked in order not to give us a bad name."

He kept on arguing with his clients here and there and most times when you read his side of the story,you know for sure he isn't clean.

See what he turned mavverick talk into? Same way you have been arguing with a lot of them and they come up with bad bad stories.

You have forgotten that as you have mouth,so a lot others too.

Talk less! Talk less!! Talk less!!! It will do you more good.

mavverick:
Of course I don't have any business with your suppliers , that's why I said I have had to call the woman to order. What I have a problem with is when they come to my own site and I have nothing to do with it.

I guess a recent saga of a similar case was what caused a sleepover in a police cell last week.

300 bags of cement, I don't know the agreement between you and the woman. Current supplier, I don't deal with offloading that's included within the price.
I have always settled testing people and I have records of payment. and If you are going to start going on with petty things, how about the 30k overpayment, have I mentioned that to divert away attention from the allegations on ground ??

How about the fact that you collected money for marine board and it was used for less than 30% of the decking, and I paid for 100% coverage. In order to move on, I have had to buy extra planks, spent over 500k on just planks alone excluding renting marine and then he gives me annoying excuse that planks were not counted when it was dropped to cover up for his own fraudulent practices.

OR THE FACT THAT ON NUMEROUS OCCASIONS YOU ASKED MY SECURITY GUY TO COLLUDE WITH YOU TO DEFRAUD ME ON THE MATERIALS BEING DELIVERED (CEMENT, NAILS, SAND DELIVERY), NOT ONCE DID YOU ASK THE GUY, BUT NUMEROUS TIMES YOU EVEN OFFERED HIM 10K CASH TO WHICH HE REFUSED BLANK AND TOLD ME EVERYTHING. Why why why Brabus. You are more than this now.... They say in Yoruba that "iso kekere ni eniyan fin ba nkan nla je" . You carry small mess spoil big things. I introduced you to 2 other people who used your services, do you EVER think I can recommend you again... Cant even recommend you to my worst enemy.


Lastly everyone, did he answer the question on whether rods/cement were taken from my site. You see, I have keep quiet all this while, doesn't mean I am a fool. But like I said all I want for you is to admit your guilt. I have moved on since and learnt from it.

Hmmmnnnn!

brag3:


"By respecting each other's decision and meeting up our obligations as spelt out in contract document, all will be well. The big question is "Do all our clients satisfy the conditions of the contract?"
"

Brabus you seem to be insinuating that your clients dont satisfy all the terms of their contract with you.
Can you let me know when/where we broke the terms of our contract?

And when did you ever tell me or my brother to go and reconsider our decision before signing contract with you?
I must have missed that posting because I don't think this happened in our case

Sir, abeg let this your own matter rest because the more you talk about it,the more pain you feel. We already know what happened. He didn't deny the allegation you levied against him. Just ignore and move on,please!

No need to argue or ask questions again.

brabus:


Sir, I think we've put this issue behind us but if you insist you wanted to know. You can reply this post and I'll tell you.

This your customer service na wonder. I never see am before!!!

mavverick:
@Brabus

Summary

[b]You cannot be trusted with money.
You run a Ponzi scheme robbing Peter to pay Paul.
You have failed to show us any qualifications you have, nothing but a glorified project manager.
You have failed to show us any project you completed where it hasn't ended in a divorce before completion.
You collect money from clients and don't pay workers, they start to fight/argue etc and in the end the client suffers because the work they do can sometimes be fraught with errors.
You do not like to own up to your mistakes.
You are very greedy even robbing poor artisans like bricklayers, iron bender etc of their money. These are ordinary people hustling, not buying multiple jeeps behind fraudulent activities.
You like packaging too much, too much talk and no action, all built off the back of a fagggg packet (lies).
You are very dishonest (would do anything to get the work, once you get it and money is in your hands, you start holding ransom).
Too much lies (don't know where to start), one example for my site, he was supposed to use marine for the decking, and my pako for the side boards, he used my pako for 60% of the decking and paid for 150 planks for the boarding at the sides. The 150 planks is what took time to settle the seller and that one wanted to start removing the side pako from my decking despite the fact that 250k was paid for marine rental, had I known and not fallen for the deception, I should have bought my own pako, which was what I was doing for other materials.
[/b]



Like I said, me I am not here for revenge. Just revealing my experience.

Hmmmnnn! New new things coming up.

Sir,let's end this. We all know from the write up of both of you what happened.

Let's just move on.

brabus:
@mavverick, thank you! That doesn't change the obvious, NextHome is not Baba Lati shop and we respect whatever document we sign with our clients. We stand by our word. Continue running the project from UK, dealing directly with tradespeople here in naija.

I'm sure you remember how much brag3's brother warned you against these approach. 'Aja to maa sonu ko ni gbo fere olode'

That we owe our workmen is a myriad to me cos it's a case of garbage in, garbage out. What you give is what you get. You want to pay NextHome 60k and expect us to pay more for the workers or what?

Bros, abeg to digress?

'Aja to maa sonu ko ni gbo fere olode'

Do you have to say this?

That's rude! It's not your business any approach he follows!

Haba!

A n je ekuru oran ko tan,o tun gbon owo e s'awo.

adeekiti:
Please bear with me , I'm not a good writer but I think one can understand what I'm driving at.. Oga 3strike abeg I wan ask again wetin be weed?

Weed is any plant that grows in an unwanted place e.g water leaf

Oga 3strike,hope I got the explanation?

adeekiti:
oga army pls sir hope no be sey u wan arrest pple sha for their comments make I no write anything again . oga Brabus dey cause more probs for himself settle things with your clients, it seems dey av loads of queries against u due to the service u offered them, again pls customers are always right.. Try and get some ideas abt customer service, it will really help bro

Arrest ke? Not possible jooor! He is a fake army

Brabus is really causing more problems for himself by talking too much. I hope he learns fast that "one don't need to fight all fight "

beedam:

Weed is any plant that grows in an unwanted place e.g water leaf
Oga 3strike,hope I got the explanation?

NO. Nah Igbo, Cannabis or Indian Hemp.... those nah Oga pata pata of the "Weed"
Like the one the boys dey do behind Mandilas in those days...


Hajji M.

mufutau55:


NO. Nah Igbo, Cannabis or Indian Hemp.... those nah Oga pata pata of the "Weed"
Like the one the boys dey do behind Mandilas in those days...


Hajji M.

Or under Molete bridge in Ibadan

So much second hand smoke on the way to school.

EgunMogaji:

Or under Molete bridge in Ibadan
So much second hand smoke on the way to school.

LOL!!!

Hajji M.

EgunMogaji:


Quoting myself to continue..

I ran across this thread

https://www.nairaland.com/2519031/builder-needed-estate-project-ibadan

And it is talking about some sort of bank guaranty instrument, maybe that's the missing link for the scheme I am proposing to work in Nigeria.

Everything is here in Nigeria. Just that few knew about it but the bigger boys in the construction industry are well aware of Contractor's Insurance.

Advance Bank Guarantee (ABG) is common in big projects. Most of Lekki Garden contractors get this document from Diamond Bank, Zenith Bank, StanbicIBTC and other banks that support projects after satisfying the requirements for accessing such.

For residential projects, contractors with insurance can access the bond by presenting their Contract Award Letter, Building Plans and Quotation to the bank and upon approval pay a bond fee which will be calculated based on the fund accessed. However, this is not for every dick-and-harry but only for verified contractors. The bank building inspector will look into the estimates and confirm its not out of place.

brabus:


Everything is here in Nigeria. Just that few knew about it but the bigger boys in the construction industry are well aware of Contractor's Insurance.

Advance Bank Guarantee (ABG) is common in big projects. Most of Lekki Garden contractors get this document from Diamond Bank, Zenith Bank, StanbicIBTC and other banks that support projects after satisfying the requirements for accessing such.

For residential projects, contractors with insurance can access the bond by presenting their Contract Award Letter, Building Plans and Quotation to the bank and upon approval pay a bond fee which will be calculated based on the fund accessed. However, this is not for every dick-and-harry but only for verified contractors. The bank building inspector will look into the estimates and confirm its not out of place.

Excellent.

EgunMogaji:


Excellent.

Did you go through NIOB and CORBON website sir? And were you able to get the necessary info you wanted?

As an aside, is there a market for sale of uncompleted buildings in Nigeria. There is a significantly completed 4-apartment building in Aja area of Lagos. Does anyone know who might be interested in its purchase?

.

beedam:


Weed is any plant that grows in an unwanted place e.g water leaf

Oga 3strike,hope I got the explanation?

oh oh I remember biology but I'm not sure that's what oga 3strike means ma, he said smoke good morning ma

beedam:


Arrest ke? Not possible jooor! He is a fake army

Brabus is really causing more problems for himself by talking too much. I hope he learns fast that "one don't need to fight all fight "

arrest lol, maybe we don get e-army it's left to mr Brabus jare

brabus:


Did you go through NIOB and CORBON website sir? And were you able to get the necessary info you wanted?

Not yet but I definitely will.

Thanks for sharing that very valuable info.

EgunMogaji:


Not yet but I definitely will.

Thanks for sharing that very valuable info.

Go through the website, you'll find all the necessary info about registration of builders and construction firms. You can also visit CAC website for more info.

Information is power.

It seems God did not answer my prayer...cos I just have to comment on this thread finally.

I don't know when most of you joined nairaland or started visiting property section but this brabus palaver no be today...

Don't get me wrong, I absolutely adore the guy's business packaging, but as poor guy hustling in America...dem no born me to give him job.

I am sure he will attack me after this...I hope he has the wisdom not too...@Brabus, I will soon call you.

I was looking for someone to do my project for me and I fell in love with the guy...but being a project minded person, I decided to ask more builders to tender...even though I knew in my heart it was Brabus I was going to give it to.

To cut a long story short, I went with another contractor on NL and I have no regrets....

Why I didn't go with Brabus again...the week I was to call him and have my people meet him to sign, Ahonohai case hit NL...the LSPDC flat renovation...

To God who made me I defended Brabus...attacked people, pleaded with people...some days later, the PH problem started.

I quickly borrowed myself brain...this my tashere dollars, to enter voice mail...mbanu!

I even went as far as to ask Alhaji to ban him but everyone was defending him...the packaging was just too foolproof.

You go don fall yakata before you know what's up....despite this Qc1...who I personally advised o, here on NL..still shook head.

What came out of it...iranu, abasha etc......

The funny thing is that a lot of you probably saw all his dealings and complains from other clients but still opted for him....as we speak, some dundees reading this thread are finalizing with him....see, you can't give what you don't have...Brabus is not a builder or qualified project manager for that matter.

Do you think project management is just about organising sand and cement?

Before I forget, when Segcymoor outed him as a computer guy...i fight am o...I ask am say how does it matter, now it is there for all to see.

Brabus, I hope u purchase the wisdom not to respond, but I doubt you can afford it....

Your own people say... this firewood is not good, that one is not good...are you not going to cook.

At the last count, you are closing in on ten nairalanders complaining about you...are they all mad....and we don't know your off NL reputation.

I am yet to read a complain about spyder, segcy, HsL, aventures...na only u dey here.

I am sure your house in sagamu, if we check, you will also complain about the work you yourself did....

You are a young man, calm down and do business the right way, fighting ALLLL your clients will not build your reputation.

I hope this helps you, if it doesn't...I am using free office wifi!

Jamesqu:
It seems God did not answer my prayer...cos I just have to comment on this thread finally.

I don't know when most of you joined nairaland or started visiting property section but this brabus palaver no be today...

Don't get me wrong, I absolutely adore the guy's business packaging, but as poor guy hustling in America...dem no born me to give him job.

I am sure he will attack me after this...I hope he has the wisdom not too...@Brabus, I will soon call you.

I was looking for someone to do my project for me and I fell in love with the guy...but being a project minded person, I decided to ask more builders to tender...even though I knew in my heart it was Brabus I was going to give it to.

To cut a long story short, I went with another contractor on NL and I have no regrets....

Why I didn't go with Brabus again...the week I was to call him and have my people meet him to sign, Ahonohai case hit NL...the LSPDC flat renovation...

To God who made me I defended Brabus...attacked people, pleaded with people...some days later, the PH problem started.

I quickly borrowed myself brain...this my tashere dollars, to enter voice mail...mbanu!

I even went as far as to ask Alhaji to ban him but everyone was defending him...the packaging was just too foolproof.

You go don fall yakata before you know what's up....despite this Qc1...who I personally advised o, here on NL..still shook head.

What came out of it...iranu, abasha etc......

The funny thing is that a lot of you probably saw all his dealings and complains from other clients but still opted for him....as we speak, some dundees reading this thread are finalizing with him....see, you can't give what you don't have...Brabus is not a builder or qualified project manager for that matter.

Do you think project management is just about organising sand and cement?

Before I forget, when Segcymoor outed him as a computer guy...i fight am o...I ask am say how does it matter, now it is there for all to see.

Brabus, I hope u purchase the wisdom not to respond, but I doubt you can afford it....

Your own people say... this firewood is not good, that one is not good...are you not going to cook.

At the last count, you are closing in on ten nairalanders complaining about you...are they all mad....and we don't know your off NL reputation.

I am yet to read a complain about spyder, segcy, HsL, aventures...na only u dey here.

I am sure your house in sagamu, if we check, you will also complain about the work you yourself did....

You are a young man, calm down and do business the right way, fighting ALLLL your clients will not build your reputation.

I hope this helps you, if it doesn't...I am using free office wifi!

lemme get this straight, you mean the brabus guy has

scammed ahanohaii
scammed another guy in ph
scammed qci
scammed brag3
scammed 3strike
who again has he scammed?

seun come oooooo this one na ogbologbo fraudster

mavverick:



That's what I was saying that in Nija, its not common for contractor to use their own money to do the work first, maybe with government contracts etc. But that's out of scope here.

With government projects, there's what is called an Advanced Project Guarantee (APG). Its taken from banks and the bank now acts like an escrow account for the project until the contractor gets to a particular stage where he can free himself from the the bank guarantee.

This has its own problems depending on the banks and your relationship with them. We took ours from former Intercontinental Bank and had little issues cos we had a long history of relationship with them.

But we had a raw deal with Zenith and Access cos apart from the fact that they get a percentage from the APG, those banks put a lot of road blocks to collecting our money. They will come to site after getting clearance from the client to pay up and review all the works looking for loopholes not to pay. We discovered on both occasions that they just needed the money to stay with them as long as possible, at all cost. This delayed the project until the client officially directed that they move the APG account out of the bank ( for access), and had to pay Zenith bank the part collected with interest and cancelled the APG from them.


APGs are payed back to the banks ( with interest) by the client after an agreed period or stage of the project; from the contract sum.

The project has to be a huge for one to get APG cos the contractor will also factor the bank interest into the contract sum. Interest differs from bank to bank

Jamesqu:
It seems God did not answer my prayer...cos I just have to comment on this thread finally.

I don't know when most of you joined nairaland or started visiting property section but this brabus palaver no be today...

Don't get me wrong, I absolutely adore the guy's business packaging, but as poor guy hustling in America...dem no born me to give him job.

I am sure he will attack me after this...I hope he has the wisdom not too...@Brabus, I will soon call you.

I was looking for someone to do my project for me and I fell in love with the guy...but being a project minded person, I decided to ask more builders to tender...even though I knew in my heart it was Brabus I was going to give it to.

To cut a long story short, I went with another contractor on NL and I have no regrets....

Why I didn't go with Brabus again...the week I was to call him and have my people meet him to sign, Ahonohai case hit NL...the LSPDC flat renovation...

To God who made me I defended Brabus...attacked people, pleaded with people...some days later, the PH problem started.

I quickly borrowed myself brain...this my tashere dollars, to enter voice mail...mbanu!

I even went as far as to ask Alhaji to ban him but everyone was defending him...the packaging was just too foolproof.

You go don fall yakata before you know what's up....despite this Qc1...who I personally advised o, here on NL..still shook head.

What came out of it...iranu, abasha etc......

The funny thing is that a lot of you probably saw all his dealings and complains from other clients but still opted for him....as we speak, some dundees reading this thread are finalizing with him....see, you can't give what you don't have...Brabus is not a builder or qualified project manager for that matter.

Do you think project management is just about organising sand and cement?

Before I forget, when Segcymoor outed him as a computer guy...i fight am o...I ask am say how does it matter, now it is there for all to see.

Brabus, I hope u purchase the wisdom not to respond, but I doubt you can afford it....

Your own people say... this firewood is not good, that one is not good...are you not going to cook.

At the last count, you are closing in on ten nairalanders complaining about you...are they all mad....and we don't know your off NL reputation.

I am yet to read a complain about spyder, segcy, HsL, aventures...na only u dey here.

I am sure your house in sagamu, if we check, you will also complain about the work you yourself did....

You are a young man, calm down and do business the right way, fighting ALLLL your clients will not build your reputation.

I hope this helps you, if it doesn't...I am using free office wifi!

Bros. to the point of correction I am not the one outed him as computer graduate(ema kogbo si mi lapo o).
I only asked if it's true during PH palava in which he admit..
from my understanding that has been revealed during Ahonohai palava and I not yet on NL then.
Abegi. Reflect back!

brabus:


Everything is here in Nigeria. Just that few knew about it but the bigger boys in the construction industry are well aware of Contractor's Insurance.

Advance Bank Guarantee (ABG) is common in big projects. Most of Lekki Garden contractors get this document from Diamond Bank, Zenith Bank, StanbicIBTC and other banks that support projects after satisfying the requirements for accessing such.

For residential projects, contractors with insurance can access the bond by presenting their Contract Award Letter, Building Plans and Quotation to the bank and upon approval pay a bond fee which will be calculated based on the fund accessed. However, this is not for every dick-and-harry but only for verified contractors. The bank building inspector will look into the estimates and confirm its not out of place.

I think it’s easy to say everything is here in Nigeria but who enforces any of these contracts if things go wrong?

EgunMogaji:


Madam, I am what I am. An Ibadan made and grown boy. That I work so far away in America doesn't mean that I've lost my heritage

They do exactly what I wrote where I live here in the US, not sure of those other countries.

It's dangerous to drive a motor vehicle and hundreds of thousands will die today. This is not stopping any of us from jumping into our car and driving. An analogy.

So maybe an astute builder will introduce this system in Nigeria. Maybe introduce an escrow company as an in between or a bank guaranteed loan.

It can work if we put measures into place to make it work. I built another house in Texas also with only a $500 deposit and to my complete customization. Builder could not meet my timeline towards the end. Due to contract that we signed they paid of my house rental for 3 months and when they still couldn't finish it in time they made an offer, mov in now and have work around us or pull out. We opted to pull out.

I think Brabus is on to a good thing, he is now wise enough to include Lawyering up in his contracts. That this was missing is alarming to me. Why would three siblings, one of whom is in the UK and another that lives in the capital of Nigeria will enter into a N24m real estate deal without a Lawyer befuddles me.

Why would three siblings, one of whom is in the UK and another that lives in the capital of Nigeria will enter into a N24m real estate deal without a Lawyer befuddles me??

Let me answer this for you please.
Who enforces any of these contracts if things go wrong?
To buttress the point that Maverick made I can understand such things happening in government contracts because we are talking of very huge figures (not the moi moi millions we small clients are spending).
Get a lawyer involved for contract? Yeah right. And if either party goes wrong who enforces it?
Few stories in my own case.
My own sweet mum (bless her). Poor woman bought into a government scheme years ago in Jakande time (Yes that far back). All contracts signed and papers still here(Yeah my mum keeps everything) and till today the woman goes to court almost every week. She is in the news most times as one on the most vocal people and till today they have not got a single thing.
They even won the case and court ordered government to give them something about 4 years and till today one story after another.
Another story (I do have so many of them).
I signed a full contract to buy two plots of Land somewhere around Eleko. Contracts fully signed with a lawyer. This was done over 5 years ago. After so much story I went to ask for my refund because the man refused give us the plots. He kept giving story. After 5 years of waiting and praying I asked for refund and what happened. Another story came in.
Wanted to go to court and was advised that it will cost more and I may not even get anything back. I had to learn from my mum’s lesson and decided to go the jungle way and do things my own way.
After the developer slept in station for 3 nites he realised that fire was really burning so decided to sign undertaken to make my refund. Now this refund is for the exact amount. No interest that will have accrued over 5 years. And to make matters worse police say that have to take 10% of whatever I get back so that’s about 1M going to police.
Now tell me how does a contract help here? Who will enforce any payment for any wrongdoing?
This is Nigeria o. whoever has the most money can do and undo.

My advice is simple. Do all you can to protect your investments and don’t make the mistake of relying on our legal or judiciary system because if you do you are definitely on your own oo

@brabus, you will recall during the crisis you had with the guy at ile oluji, I fought gettyababy (hope I got it right) defending you. Euromillion too came defending you. I gave you an advice then. Build your reputation offline. I can give segzy a second chance if he does something wrong on my project but with your reputation, I will quickly run to nairaland. You will never get a good reputation on line until you close your account on nairaland and build your reputation upwards. That doesn't mean you don't have issues. Do you know that since I know you, I don't know a single client that ended the project with you peacefully? You can't always be right. If ten people have issues with you, you are the real issue not them. Something is wrong with the way you manage clients

brabus:


That the legal system is weak doesn't mean it should be abolished or ignored. We need to start doing business the right way without emotional attachments. No one can oppress you if you know your true value.

As a manager, we need to know how to separate emotion from a given business situation. Making decisions based on emotion or sentiment can lead to bad results. "Customer is always right" is just an expression that stores say to keep customers happy. Reacting to situations emotionally rather than reacting based on logic and facts can do lasting damage to business relationships.

Most contractors think that “the more customers the better”. But some customers are quite simply bad for business just as there are lot of terrible contractors. Get that right into your head.

Interesting reads: https://en.wikipedia.org/wiki/The_customer_is_always_right

_______
@semitunde, I hope you're seeing the reasons why you should not hit the spotlight unprepared.

Lol. Edit. Hit Nairaland unprepared. And I was talking about me some 7yrs back. Nairaland is a good platform but I see many here rushing to be known after only a few years ( or months) of experience.

I've seen quite a few threads opened on construction stuff make front page only to realise from some simple questions that the op may not actually know much, but is just selling himself online anyways.

I wanted to avoid that. Know my stuff and not get disgraced trying to answer seemingly easy questions, or go AWOL without answering them. It didn't mean I wasnt "in the spotlights", just not in Nairaland.

P.S.

I'm surprised you have not closed the issues on this thread till now. I know the guys here don't want your downfall. This thread keeps getting longer cos they've not gotten what they really want- a whole hearted apology from you to all concerned.

Pls do a post, treating each person with his own apology and acceptance of guilt. Then call for a closure of this thread.

Bro, your defence ( which is quite good I must confess) isn't helping you much here. This is a public site, and as the world goes digital, you won't want anyone googling NextHome to have issues like this jumping out at him.

semitunde:


With government projects, there's what is called an Advanced Project Guarantee (APG). Its taken from banks and the bank now acts like an escrow account for the project until the contractor gets to a particular stage where he can free himself from the the bank guarantee.

This has its own problems depending on the banks and your relationship with them. We took ours from former Intercontinental Bank and had little issues cos we had a long history of relationship with them.

But we had a raw deal with Zenith and Access cos apart from the fact that they get a percentage from the APG, those banks put a lot of road blocks to collecting our money. They will come to site after getting clearance from the client to pay up and review all the works looking for loopholes not to pay. We discovered on both occasions that they just needed the money to stay with them as long as possible, at all cost. This delayed the project until the client officially directed that they move the APG account out of the bank ( for access), and had to pay Zenith bank the part collected with interest and cancelled the APG from them.


APGs are payed back to the banks ( with interest) by the client after an agreed period or stage of the project; from the contract sum.

The project has to be a huge for one to get APG cos the contractor will also factor the bank interest into the contract sum. Interest differs from bank to bank

This is spot on. Points to note:
1. Advanced Bank Guarantee or Performance bond is mainly for government sponsored projects or multinationals.
2. It creates a time Lag in project schedule
3. It increases cost of project because the bank will hire a project manager who will be paid as much as 150-300k monthly depending on magnitude of the project magnitude.
4. Nigerian banks love to hold money especially when month end or quarterly assessment approaches.
5. I remember the Ajimobi neighbourhood market project in Samonda sponsored by Wemabod. Our bank rejected their ABG and I can confirm many contractors had to abandon site. It's been 2 years and they are still being owed even with the ABG.

@Egunmogaji Even in Escrow payment, the Payer still holds the ace. What if I complete the job and you don't instruct Escrow to pay me? Or the Payer decides to withold millions of naira just because of a trivial issue?