Builders Disbursements Inc. will work in tandem with your general contractor to administer the payment of construction bills with the use of BDI vouchers. BDI requires that you, the owner/borrower, forward to BDI copies of the California Preliminary Notices that you receive. This notificationis then processed into our computer system in order to insure that lien releases are obtained from appropriate parties at the time of payment.
The vouchers are paid from trust escrow funds which BDI has received from your lender on a job-progress basis. These funds are held in trust for the benefit of subcontractors and suppliers working on your job. Consequently, the funds are not subject to unforseen circumstances such as tax levies or bankruptcies.
All payments authorized by the general contractor are reviewed by BDI for completeness. Invoices, payee releases and appropriate supplier releases are only part of the review process. This scrutiny insures that all proceeds of your loan are accounted for properly.
At BDI, we recognize that efficient cash flow helps promote accelerated job progress. This benefits not only the owner/builder, but also the general contractor and all other parties concerned.