We have been asked by one of our owners to verify and "lay eyes" on stored materials that one of our subs suppliers is storing in Canada. This is where the suppliers warehouse is located. It is steel that will be prefabricated then shipped to the project site. Owners have a concern there would be an issue with shipping across border now with travel restriction related to COVID. This is also a sub that should have bonded but have not been able to produce a bond yet. We are implementing other risk mitigation measures related to the bond issue, but we also want to have an independent party verify the stored materials in the supplier warehouse which the sub has billed. The sub did provide a COI, bills of sale and pics.
We have found a firm to do this in Canada for us. Besides a description of the material and taking pics while at the warehouse, what other information should we ask to be documented in their independent verification report? I have not had this specific issued come up before, but I suspect a few of my CFMA peers have had similar issues with border crossings and stored materials.
Appreciate any insight to how others have dealt with a similar issue.
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Buffy Wilson CPA, CGMA, CCIFP, MBA
Controller - Commercial Construction
Southern Land Company
Nashville, TN
615-778-1205
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