Tungsten Capital launches claims funding service to help other claims consultants serve clients
Last year, Tungsten Capital launched a new claims funding service in order to meet the changing needs of those in the construction industry. This month, we have extended that service with a second fund for claims consultants themselves, in light of the additional pressures that coronavirus is placing on the industry.
The current climate is a stark reminder of the challenges that all of us in the construction industry face, and the phenomenal risk we are all exposed to. While we all operate in a competitive environment, when the personal risk becomes too great, we risk an industry without justice for anyone, and without checks and balances to ensure the safety of all working in construction.
Regardless of our competitive natures, none of us wish to see anyone suffer. In this environment we must seek to try to help one another, and we want to do our part in that. In 2018, Tungsten Capital began providing funding for the development of claims through our international funding platform, Quantura. This month, we have extended that to a second fund, Anaconda.
Whereas Quantura offers the claims funding facility to Tungsten Capital’s own clients, with Anaconda we have taken the step of extending this funding offer to other claims consultants in order to help them continue supporting clients, even when the client’s income is doubly jeopardised by the claim and the surrounding global circumstances. If you have a client who wishes to pursue a claim, but perhaps does not have the necessary funds to do so, then we will help you to help them.
In cases where Anaconda funding was approved, we would not undertake the work for preparing the claim. That still remains the job of the claims consultant. We simply provide them with the finances that they need to do the work on behalf of their client. By extending our normal arrangements, we hope that we are able to do our small part in keeping things moving.
If you are a claims consultant and you would like to find out more information, please do not hesitate to contact us.