Q10.6 - Who independently certifies the achievement of milestones, and how is independence ensured in practice? - FAQ
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Q10.6

Who independently certifies the achievement of milestones, and how is independence ensured in practice?

Governance, Reporting, and Transparency 20/01/2026
Milestones will be defined in measurable terms (e.g. specific infrastructure segments completed, permits obtained, pre‑sales achieved). Their achievement will be certified by independent third parties where appropriate (for example, engineering / technical inspectors for construction milestones, notaries or lawyers for legal milestones, auditors for financial covenants). The names and appointment process for these independent certifiers will be set out in the documentation to ensure that neither the sponsor nor the developer can unilaterally validate their own performance.
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Q10.1

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Q10.2

Will independent periodic reports be provided to investors?
Q10.3

Who are the main stakeholders and what are their roles?
Q10.4

Does Advanced act as a pure escrow agent, or does it have discretionary power to block or delay disbursements?
Q10.5

Will quarterly reports include: - remaining collateral value, - lots sold vs. unsold, - available cash, - outstanding senior debt, - updated downside scenarios
Q10.6 Actuelle

Who independently certifies the achievement of milestones, and how is independence ensured in practice?
Q10.7

Do bondholders benefit from any collective consent or veto rights on key matters (additional debt, changes to the master plan, asset disposals)?
Q10.8

Will investors benefit from a right to an independent annual audit or review?
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