Misconceptions About Funds Control
What is the first thing you think of when you think of “Funds Control”? If you’ve never used it before, funds control can seem confusing and intimidating. In the following article, CFAS will explain five common misconceptions contractors have about funds control. The Project Will Be Slowed Down The extra checks funds control provides will…
H.R.2726 and Its Potential Impact on the Construction Industry
The Small Business Payment for Performance Act of 2023 was introduced to the House of Representatives on April 14, 2023, by Representative Pete Stauber of Minnesota. Seeking to enhance the financial stability of small contracting businesses, the act aims to promote fairness in government projects and support the growth of the construction industry. Our understanding…
What Are The Benefits of Funds Control in a Deteriorating Market?
Three Ways CFAS Protects your Investments Funds control is essential for financial security in a deteriorating market, but how does it secure your assets? Construction Financial Administration Services (CFAS) is a funds control company focused on securing your investments and ensuring projects are finished. There are multiple ways CFAS works with contractors and surety bond…
Funds Administration
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.