Approved Capital Company provides Capital Administration services to contractors in the Canadian construction industry, specifically to support contract surety bond programs.
OUR CAPITAL ADMINISTRATION PROGRAMME IMPROVES THE CONTRACTOR’ ABILITY TO OBTAIN:
- Bonding or increased bond capacity
- Obtain new and improved supplier and subtrade support
- Improved project accounting management and reporting ( Provides management, partners, and other Indemnitors with peace of mind )
- Maintain in partnership with external accounting services an improved financial statement reporting system
SERVICES APPROVED CAPITAL PERFORMS:
- Assist in the development of emerging contractors into well established construction firms with a successful track record.
- Manages all paperwork → Allows contractors to have more time to focus on the project
- All project accounts payable obligations on behalf of the Client, and safeguards project capital in trust accounts at a CDIC insured financial institution.
We support the client each step of the way, offering direct consultation the moment our client is low on the bid, to ensuring there are no deficiencies at the project close-out phase. We ensure all financial obligations are met in a timely manner for each draw.
Approved Capital utilizes its extensive surety and accounting experience to ensure all received project capital are properly distributed against realized project expenses.
Approved Capital offers a quick, efficient process. Speed and efficiency are vital – payments are disbursed within 24 hours of receiving a complete disbursement request package.
Ease of Use:
Participating in Approved Capital’s Capital Disbursement programme is a very user friendly experience due to knowledgeable personnel, straightforward forms, and an efficient process.
CAPITAL ADMINISTRATION – FREQUENTLY ASKED QUESTIONS
WHAT IS CAPITAL ADMINISTRATION?
Capital Administration, also known as Funds Control, is a service which ensures that project capital, once obtained from the owner, are properly disbursed to satisfy the contractor’s respective financial contract obligations. Capital Administration, are often utilized by bond companies as a condition for providing bonding to a contractor.
WHO REGULATES APPROVED CAPITAL COMPANY AND ARE THEY INSURED?
Approved Capital is bonded and insured, all funds are held in CDIC insured bank accounts. Approved Capital is a member of the Approved group of companies and Lloyd’s Open Market Correspondent (#185182).
WHAT ARE THE FEES FOR CAPITAL DISBURSEMENT?
Approved Capitals fees depend on a number of factors, including the type of job, the amount of the contract and the contractor’s qualifications during the underwriting process.
HOW WILL THE PRINCIPAL’S SUBCONTRACTORS AND SUPPLIERS VIEW APPROVED CAPITAL COMPANY’S INVOLVEMENT IN ISSUING THEIR PAYMENTS?
The Approved Capital has an excellent reputation in executing timely and complete payments, this security is highly respected by vendors who are concerned about receipt of payment.
We are viewed by project vendors as accounts payable support, designed to eliminate the administrative burden from the contractor allowing them to concentrate on the project’s completion.
WHAT KIND OF TURNAROUND TIME CAN THE PRINCIPAL EXPECT?
In most instances, Approved Capital can process disbursement payments within 24 hours, provided the contractor has submitted a properly completed disbursement request package.