Tungsten Capital’s industry-first claims funding initiative: what you need to know
Earlier in the year, Tungsten Capital launched “Quantura”, an industry first initiative aimed at providing contractors and subcontractors with the means to fund claims at little or no risk. So what are the details you need to know and what makes it so unique within the market?
As an international organisation providing domestic and international construction companies, subcontractors and construction industry consultants with the highest level of Claims and Dispute Resolution services, we know that claims notices are not unusual on large construction projects. It is estimated that in some countries, more than 100 claims arise in each mega construction project and in our experience, the highest numbers of claims and modifications on a single project totalled 6,000 items.
Quantura is a unique method of funding and developing commercially viable construction and engineering entitlement claims. It is also an industry first, providing claimants with a true “no win, no fee” alternative to the traditional approach where claims consultants are paid their fees irrespective of their performance or the outcome of the claim.
- Quantura is a specialist service that sits alongside Tungsten Capital’s existing claims platform.
- Through Quantura, Tungsten Capital funds the entire cost of developing claims.
- That reduced expenditure frees up cash flow for core operations or investment.
- Claims shift from being a cost centre to a positive source of revenue.
- Claimants receive the benefit of a successful claim, representing a completely risk-free approach.
- Claimants can resolve claims that they might not ordinarily justify on a commercial basis.
Recognising the financial anxiety, as well as the emotional strain and time delays that a claims notice can bring to construction projects of all sizes, in the creation of Quantura our goal is to reduce client risk and enable a more manageable process by which clients can seek their deserved compensation, reimbursement or resolution.
“It doesn’t matter how long you’ve been in the construction industry or how big your budgets are, a claims notice can be an intimidating prospect.
Not knowing where to start, who to trust, how much it’s going to cost and how long it will go on for can be an emotional as well as financial strain.
At Tungsten Capital, we have always delivered an approach where we look to share the risk of a claim with a client, as opposed to the traditional model where the client shoulders the entire financial burden of fighting a claim. That has been our way of showing our commitment to them.
However, sometimes it’s necessary to go further, and that’s where we hope to make things easier for clients and project stakeholders through Quantura.
In doing so, we don’t just hope to protect the financial interests of our clients, but also help them to settle claims in a way that maintains positive working relationships and keeps projects on time and on track wherever possible.”Tungsten Capital CEO, Peter Elliott