A spotlight on Novation Novation is the term used when a company transfers a project to another provider before it completes – either because it has gone out of business, decided to exit the market or there is mutual cancellation. In this edition of Connections our business development director, Dan Owen , discusses novation in more detail and outlines why Aptus is perfectly placed to take over projects when a company can no longer fulfil requirements. Recently, Aptus has noticed a growing number of novation agreements taking place when a project is transferred to another company. With more and more Independent Connection Providers entering the market, without correct due diligence when appointing contractors, problems can often arise as a project develops. Here at Aptus, we have the skills and experience to step in if a contract is being novated, having completed a range of novations comprising hundreds of developments and thousands of connections – we have been approached directly or via recommendation from network operators based on our credentials and reputation. A STEP-BY-STEP PROCESS Early engagement is key, allowing us to assess what is required and provide a clear strategy for the next steps. From there we endeavour to gain a thorough understanding of the scheme overall, engage with the Distribution Network Operator and the adopting IDNO for full transparency, review approved and as laid drawings, and provide a full ‘cost to complete’ proposal based on the requirements to complete the scheme. We have a proven track record of doing this and are proud to have been chosen by multiple companies to successfully novate a range of contracts. TRUSTED PARTNER We were contacted directly by Western Power Distribution (WDP) when they were undergoing a controlled exit from the multi-utility market.
Although the project comprised dozens of existing developments of varying scope, we were able to provide a seamless resolution for WPD’s customers in a timely and professional manner. Aptus has also completed over 50 schemes for Clancy Docwra too, highlighting our credentials to successfully novate projects as a trusted Positively, and thanks to the expertise we have demonstrated when novating projects so far, we have further novation schemes in the pipeline. Although it can be a challenging and disruptive time when a provider can no longer fulfill their obligations, rest assured that Aptus is on hand to help companies finish projects on-time and to the highest standards. GET IN TOUCH Want to know more about our Novation services industry partner. IN THE PIPELINE
and how we could help you finish your project in a timely manner?
Visit - https:// aptusutilities. co.uk/contact/
08 APTUS CONNECTIONS // ISSUE 16
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