Most construction contract defaults are payment related, not performance related.
Funds control and disbursement is a very important component. It is the component that is the most important to those government agencies that allow a bond alternative. Funds administration and disbursement, when done properly, ensures that loan proceeds are actually going into the project intended. This is a proactive, reliable and affordable risk management solution which benefits lenders, owners, developers, and contractors alike. This video reviews monitoring funds control and disbursement.
Joseph (Joey) Bonin, Jr.
Partner Engineering and Science, Inc.
- Atlanta-based principal at Partner Engineering and Science, Inc., headquartered in Torrance, CA
- Practice emphasizes all aspects of commercial real estate due diligence, but especially construction risk management and bond alternative programs
- Conducts regular seminars, webinars, and workshops on construction risk management to members of RMA, NAGGL, AAHOA, GLQC, FLAGGL, and other groups
- Involved in hospitality, multifamily, retail, office, restaurant, resort, condo, student housing, medical, senior living, golf course, marina, warehouse and other commercial construction projects throughout all 50 states, Canada, Mexico, American Samoa, and the Caribbean, including Grenada, Puerto Rico, and Antigua
- Member of RMA (Risk Management Association), NAGGL (National Association of Government Guaranteed Lenders), AAHOA (Asian American Hotel Owners Association), GLQC (Georgia Lenders Quality Circle), FLAGGL (Florida Association of Government Guaranteed Lenders) and ICSC (International Council of Shopping Centers)
- B.S. degree in accounting and M.S. degree in marketing, Louisiana State University
- Can be contacted at 404-852-3767 or [email protected]
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