Warning! You are currently not signed in. Any products you have purchased will not be displayed until you Sign In

fund control agreement

An arrangement employing an independent third party to disburse the construction funds to the various trade contractors and suppliers on a given project, often mistakenly believed to be a viable alternative guarantee to a contract bond. Marshaling the contract funds and disbursing them pursuant to approved payment requests mitigates the possibility of a payment bond type claim. It does not, however, guarantee that the project will be built per plans, on time, within budget, and that all bills will be paid.

Navigation

Social Media