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FAQ
1. What paperwork is needed to set up a new job?
2. How often do you make disbursements?
3. How long does it take to fund a disbursement request?
4. How do subcontractors and suppliers actually get paid?
5. What happens if the owner wants to make a change to the project during construction?
6. How are reimbursements handled?
7. How are material deposits handled?
8. Do you do inspections?
9. Can the cost breakdown be changed after the project has started?
Q. What paperwork is needed to set up a new job?
A. Ordinarily, the documentation required to set up new job is received from the lender and consists of: #1) a New Job Request Form, #2) a copy of the cost breakdown, #3) a set of working plans and a copy of the appraisal (if costing services are requested).

Q. How often do you make disbursements?
A. Our programs provides for two disbursements per month, roughly at 15 day intervals. For Projects set up under our voucher program, funds are drawn twice per month but voucher payments are made daily.

Q. How long does it take to fund a disbursement request?
A. Ordinarily it takes 5 to 7 business days to process a disbursement request and have the funds either deposited into the escrow account by the lender or have the draw funded by the lender and the checks mailed.

Q. How do subcontractors and suppliers actually get paid?
A. Under our voucher program, the general contractor (or owner-builder) gathers the invoices and writes the vouchers to make the proper payments. The owner reviews the vouchers and back-up documentation and signs the vouchers. Upon funding of the draw by the lender, the general contractor forwards the vouchers to the payees. The payees signs the voucher and sends it to us. We write the check and mail it directly to the payee. Under our ZBA and Class A systems, the checks are written by the owner and forwarded to us. We approve the draw and forward the draw to the lender. Once the draw is funded the checks are mailed to the various payees.

Q. What happens if the owner wants to make a change to the project during construction?
A. We have procedures to monitor Change Orders and these changes must be approved by the lender. The source of funds for Change Orders is determined by the bank and appropriate deposits are made.

Q. How are reimbursements handled?
A. Reimbursements are made payable to the person who made the original payment. A copy of the paid invoice and a proof of payment document such as an unconditional release or cancelled check is attached either to a voucher or is included in the draw documentation for our ZBA or Class A systems.

Q. How are material deposits handled?
A. Customary deposits for specific trade items are handled through the normal voucher or draw process. Note: Deposits should not be paid to contractors in advance of labor to be performed. Contractor labor is paid upon completion of any given phase of billing.

Q. Do you do inspections?
A. An inspector from our company will visit the jobsite approximately every 2 weeks and take photos and complete a written report which is sent to the lender. This inspection is only to monitor job progress and not intended to judge the quality of workmanship, code compliance, or any other technical aspect of the job.

Q. Can the cost breakdown be changed after the project has started?
A. We have procedures which provide the opportunity to modify the budget by reallocation. These cost breakdown change requests are forwarded to and approved by the lender. The lender then notifies us to modify the budget.

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Bi-Monthly Construction Inspections
Chuck Hasz Enterprise conducts bi monthly inspections on all of the construction projects that are assigned with fund control. Inspectors are assigned projects on a bi monthly basis where they drive to the projects assigned for that day. Inspections consist of meeting with and walking the job site with superintendent, when available, if he is not available the inspector walks the site on their own. The inspector takes pictures of current construction progress that has taken place since the last inspection. The inspector notes all site conditions, Job progress, Superintendent on site, Workers on site and materials stored. He then scores the construction cost breakdown for increases in construction progress line item by line item. Pictures and comments are sent to the main office and forwarded to the appropriate lender. See fee page for cost.
Updated September 25, 2018


Collateral Asset Inspections
Banks periodically need to have the collateral asset property inspected. We normally receive a list from a lender of the properties that are in need of a walk through inspection usually on a semiannual basis. Our office administration team contacts the owner of the property and sets up a time for our inspectors to walk the property usually with the owner or owner?s represenitive. Pictures of the asset are taken along with comments on the condition of the property. There are properties where there is no access to the interior of the building and only exterior pictures are required. These are sent to the lender of record. See fee page for cost.
Updated September 25, 2018