Fund Control Services Offered by Goldleaf Financial, Ltd.
Many contractors, owners and surety companies already recognize the value of fund control. These companies realize that the primary cause of claims against bonds is payment default - not performance default - and the risk of payment default can be largely eliminated through the use of fund control.

Fund control involves the use of an independent company to receive all of a contractor's draws on a given project. With direction from the contractor, the fund control company also makes all of the contractor's progress payments to its subcontractors and suppliers. In the case of Goldleaf Escrow, LLC., checks actually appear as though they are issued against the contractor's own bank accounts and are sent to the contractor for the contractor's own re-delivery to the named payees. In this way, the contractor is able to control payments to its suppliers and subcontractors, and the suppliers or subcontractors are not aware that a fund control company is involved.

With each check issued by Goldleaf Escrow, LLC., a mechanic's lien statement waiver is attached. The lien waivers are customized to the specific job and payment amount. The forms also are pre-addressed and pre-stamped for their prompt return to Goldleaf Escrow, LLC. If a lien waiver is not properly signed and returned to Goldleaf Escrow, LLC., following the contractor's delivery of payment, that particular supplier or subcontractor will not receive any further payments on the project. Lien waivers must be signed and returned for further payments to be made to that entity.

As a precautionary measure, Goldleaf Financial generally compels contractors benefitting from either a Goldleaf Bond Guaranty^SM or a Goldleaf Material Guaranty^SM to utilize a fund control company on their contracts. This is further protection for the surety company, the owner and the prime contractor, as well as Goldleaf Financial itself.

Goldleaf Escrow, LLC., is similarly owned and managed by Goldleaf Financial, Ltd. However, Goldleaf Financial works with and can recommend other fund control companies.

Click Here to Request More Information About The Benefits of Fund Control or Goldleaf Escrow and How It Operates.

Copyright © 2002-2005 Goldleaf Financial, Ltd.
All Rights Reserved.