McCune’s Funds Monitoring Plan is a comprehensive plan designed to monitor funds for the mitigation of risk on commercial construction projects. We recognize that each project is different and can customize plans to fit your individual needs. With this plan, McCune conducts site reviews and manage and facilitate the accuracy of lien waivers provided. Your only obligation is to disburse funds to either your borrower or to the general contractor as listed in the McCune Payment Application form.
Our Funds Disbursement Plan is designed not only to monitor funds and mitigate risk on commercial projects but also includes lien waiver management, site reviews, and disbursement by McCune to contractors and subcontractors on commercial construction projects. Clients will receive progress review reports from McCune recommending funding. Funds are then deposited into McCune’s secure disbursements account. Once funding is authorized, McCune will disburse funds to all appropriate parties for progress and final payments per agreements.
McCune’s confidence in our Funds Management Plans combined with our ability to successfully manage the funds on your project enables us to offer a Completion Guarantee.
Should the Contractor, for any reason, fail to complete the project McCune will assume the responsibility for management and performance of the project without additional expense to the owner, lender, or contractor.
This plan is exclusive to McCune. Developed to provide projects requiring a more elevated level of oversight, this plan not only includes our Completion Guarantee as well as quality construction reviews, weekly progress meetings with minutes. Please contact us to discuss if ProAssurance is a good fit for your project.
Things to Consider When Selecting Your Construction Funds Manager
Your project is being built by the low bidder.
This may come as a surprise to you, but Contractors do occasionally under-estimate the cost to construct a project. Sometimes accidentally and sometimes deliberately. The problem is you may not discover this until it’s too late. Your Construction Funds Manager is your best source for keeping surprises to a minimum.
On privately owned projects, owners typically determine who will design and construct their projects by using a couple of methods. Some negotiate with a contractor, or a small group of contractors, while others solicit competitive bids from multiple bidders and award the project to the best (or lowest) bidder. More often, in a competitive bid environment the successful bidder is simply the Contractor that made the most mistakes or is willing to perform the work for the least amount of profit.