Builders Disbursements Inc. requires a copy of the construction contract, a set of blueprints and a copy of the cost breakdown. When these are received, BDI reviews the information to determine the acceptability of the project. At times, additional information may be requested prior to accepatance. Once the project has been qualified, a funding schedule is arranged with the lender to provide adequate cash flow for the project. At this point, the Control Agreement is prepared and copies forwarded to the lender who arranges for the signatures of the contractor and borrower. When the signed Control Agreement is returned to BDI, the initial draw may be made and a voucher package is sent to the general contractor or owner/builder. At this point the contractor is in a position to issue vouchers to subcontractors and suppliers for payment of job related expenses.
Vouchers received either over the counter or through the mail are immediately logged into out computer system. From there, a senior pay officer reviews the voucher and support documentation for completeness. From the database, the officer has immediate access to all information on the job, including budget totals, previous payments, California Preliminary Notices, receipts and change orders. The project control book may also be used to backup the database with other supplemental information, such as site review reports. Upon BDI pay officer approval, a check is issued over the counter. Properly completed and documented vouchers received through the mail are ordinarily paid the same day by return mail.
BDI maintains a complete parallel computer system in our office. In the event of a computer problem we can immediately rely on our backup system and continue to do business. Consequently, we will never suffer the "our computers are down..." syndrome. As an additional safeguard, the entire data information base is downloaded daily and taken off site. This protects all the information in our computer system.