Descriptions:

Invoice Tracking: With each draw request LQA will collect and reconcile invoices from the general contractor, subcontractors, and materialmen/suppliers to confirm that the requested work has been properly invoiced for the period.

Lien Waver Tracking: LQA will collect either conditional lien wavers with each draw and/or unconditional lien wavers for the previous draw from the general contractor for himself, subcontractors, and materialmen/suppliers of record (those who have filed a preliminary lien notice), to insure that proper payments were made to all intended parties and to help prevent subsequent unexpected liens from appearing against the project.

Funds Control/Disbursement: LQA will facilitate, process, and maintain an accounting of payments for each Payment Application to the intended parties. This may include single check disbursements, joint checks, and/or multiple checks to the various parties (general, subs, and materialmen/suppliers).

Title Bringdowns: Prior to the funding of each draw, LQA will order and review an interim title report to confirm the absence of any intervening liens.

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