Assignment of the final installment payments

The financial advisor also said that the bank issues its own form as a response, how it is worded there, no idea.

Best regards

The OP writes that he has to release the payment. No release in case of defects. I do not see any loss of control

Depending on the wording of the assignment, a possible change of the general contractor is hardly possible if there are serious defects.

The financial advisor also said that the bank issues its own form as a response, how it is worded there, no idea.

Regards

Exactly, and that's the problem. Of course, you have control over the money and approval. But the bank does not support you in case of defects. The money is only paid out to the developer. Irrevocably for the time being. Unless he gives it back to you. Hard to imagine with defects and stress since he has leverage. Then something like that also costs a bit of a fee. I once experienced a case where a lawsuit over €8,000 lasted 4 years.

What other options does one have?

What other options does one have?

another developer or he lowers his demand

What does the BU/GU assign? What does he give? Nothing. I would never sign something like that. He builds, I pay. Period. If he doesn’t trust me, then so be it. Karsten