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Frequently
Asked Questions
Who
regulates CBR?
We are
regulated by the California Department of Insurance.
How
much does the service cost?
Our
fees depend on a number of factors, including the type of job, amount of the
contract, and the number of site visits required (if any). But they are always very competitive
and flexible to meet our clients' needs.
How
can you provide nationwide service if you are located in California?
Although
our central processing center is in California, we have an extensive network
of consultants nationwide who handle local site inspections and other
services. In addition, the checks are sent to our clients via overnight
mail everywhere in the United States so geographic distance is not an
issue.
How
will it look to the Contractor's subcontractors and suppliers if CBR is
issuing the checks?
The
Contractor's or Borrower's name is printed on our checks so they look like they are
their checks. In addition, if we are ever asked about our relationship
with the Contractor or Borrower, we present ourselves as a cash disbursement service
designed to eliminate this administrative burden from the Contractor or Borrower,
allowing him or her to concentrate on project completion.
How
soon are the Contractor's or borrower's invoices paid?
In most
instances, we pay invoices within one day of the time the funds are available from the Obligee or Lender,
provided we have received all the proper documentation at least 10 business days
in advance of that date.
Is
CBR insured?
Yes.
CBR is fully insured, including a policy covering errors and omissions.
Can
your service be used for claim workout situations?
Yes. We work
with sureties in claim situations where the project in default is required
to have funds administration.
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