Final answer:
A Quantity Surveyor is appointed by lenders in development financing to prepare progress payment certificates, which facilitate the release of funds to contractors based on the completed stages of a construction project.
Step-by-step explanation:
In development financing, the professional that a lender appoints to prepare progress payment certificates is typically known as a Quantity Surveyor or Construction Cost Consultant. A Quantity Surveyor is a professional in the construction industry concerned with construction costs and contracts. They are responsible for managing all aspects related to the financial and contractual aspects of construction projects.
Quantity Surveyors closely monitor project progress and perform detailed measurements to provide accurate payment assessments that are termed progress payment certificates. These certificates ensure that the contractor receives payment for the actual work completed, as per the agreed stages defined in the contract. Lenders rely on these certified documents to release funds at various intervals during the construction process.