Box-2
Voucher System
Most Control
- NBC functions as a third party administrator for funds control
- Vouchers approved by Owner and/or Contractor to payees
- Bank funds to NBC’s trust account
- Vouchers and documentation from payees
- NBC issues checks direct to subcontractors and material suppliers as authorized
- IRS 1099 administration completed by NBC at year end
Co-Sign System
More Flexible
- Documentation and checks from Contractor
- Bank funds to joint checking account established by Contractor and NBC
- NBC co-signs checks upon review
Draw System
Very Flexible
- Documentation from Contractor
- NBC reviews upon submission of documents
- Bank funds directly upon NBC’s report
- Construction funds 100% handled by Contractor
- Unconditional releases required prior to subsequent draws
Site Visit Only
Most Flexible
- Cost review of existing blueprints can be performed
- NBC provides site photographs and reports for percentage monitoring
- Bank funds directly
Management Services
Consultant Review
- NBC performs Draw/documentation analysis as required
- NBC provides comments of potential issues discovered during the review process
