Services

Utilizing a proprietary funds administration system the construction accounting and surety professionals at CFAS ensure independent and transparent management of contract funds.

Contract funds under administration are placed in financially secure project specific bank accounts with a major financial institution under the disbursement control of cfas.

The many benefits of funds administration include:

• Verification of contract amounts, costs, subcontractor and supplier schedules and overhead and profit projections against the project schedule of values before project start.
• Contract payments are analyzed against application for payment, project schedules and status reports before contract funds are disbursed to first subcontractors and suppliers and second to the contractor for overhead and profit as earned.
• Contract cost overruns, billing irregularities, project delays and changes in scope are immediately identified and noticed to stake holders.
• Protective lien releases secured on all payments.
• Ongoing reconciliation of bank balances.

CFAS in addition to funds administration services offers a variety of construction performance monitoring and risk management services:

• Contractor capability and qualification assessments.
• Review of contract documents.
• Review of bond forms.
• Review of subcontract and supplier agreements.
• Review of estimates and construction schedules.
• Review of safety plans, quality control procedures and accounting and reporting requirements of federal contracts.
• Project oversight and monitoring.

CFAS in addition to funds administration services offers a number of independent services to assist its clients when disputes arise on construction projects:

• Prompt document review and evaluation of contract complaints and disputes and assistance with resolution.
• Review of project documents to develop and assist with the preparation of equitable adjustment and delay claims