Fund control is the use of an independent escrow (“fund control”) company to administer all of a company's receipts and payments on a particular project.

Upon receipt of each payment from the project owner, the fund control company verifies the relationship between the draw amount and the labor, subcontractor, and supplier amounts due in connection with that draw. It then makes the progress payments to the company's subcontractors and suppliers and collects all of the related lien waivers.

It is Quiet.
At Goldleaf Escrow, LLC., checks actually appear as though they are drawn on the company's own account. They are delivered to the company, and the company can coordinate delivery to the named payees. This way, the company is able to control the payments to its subcontractors and suppliers, and the subcontractors and suppliers never need know that a fund control company is involved.

It is Effective.
A mechanic's lien waiver form is attached to every check issued by Goldleaf Escrow, LLC.  Each lien waiver is customized to the specific job and payment amount.  If a subcontractor or supplier does not properly sign and return the lien waiver upon its receipt of the payment, that particular subcontractor or supplier will not receive any further payments on the project. Lien waivers must be signed and returned for any further payments to be made to that entity.

It is Reassuring.
Many owners, general contractors and surety companies already recognize the value of fund control can play in reducing or eliminating the risk of subcontractor and supplier liens. With Goldleaf Escrow helping to ensure that the contractor's draws are directed only to making payments for labor, skill and material supplied to their project, these parties can be more certain that they will not have to deal with any liens or payment claims relating to the contractor's work.

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P.O. Box 516 | Montevideo, MN 56265
telephone 320-269-9166 | toll free 866-570-1052 | fax 320-269-8751