Funds Control

xxxhelping to ensure the success of your project. Here's how it works: 

1) Funds Control

Bolster handles project funds and asks the contractor to work in good faith until the first inspection. 

2) On-site inspections

Bolster's in-house architects will visit site periodically to inspect progress and the quality of work before funds are released to the contractor.

3) Lien Management

 Bolster ensures signed lien waivers are received from all subcontractors to ensure your contractor is making payments correctly and remove the threat of a lien being placed against your home. Read about liens on Wikipedia.

4) Retention

Bolster withholds a percentage of every payment to the contractor to protect you in the event of an error or in the unlikely event of contractor failure. 


Full list of protections

 

No Advance Payment

Bolster contractors are professionally qualified by a leading surety company, which evaluates their personal and professional track record, ensuring they are responsible, reliable, and legally compliant (e.g., fully licensed and bonded). 

 

On-site Inspections

Your contractor will give you a specific start date for your project, and will commence work within a limited grace period. 

 

Lien Protection

Your contract will specify a single, fixed price so you’ll always know exactly what you’ll pay, and what you’ll get.

 

Cancellation rights

You may cancel your project contract, without cost, for any reason, within three business days of signing. 

 

Guaranteed payments

Your contractor will properly and promptly pay all subcontractors and suppliers, ensuring no disruptions to your renovation. 

 

Materials warranty

All materials and equipment furnished by your contractor, subcontractors and suppliers will be new (unless otherwise specified). 

 

Workmanship warranty

All work will be 1) performed in a courteous and professional manner, 2) of good quality, 3) free from faults and defects and 4) in conformance with the project contract and any design documents. 

 

Compliance with all laws

Your contractor will conduct all business and work in accordance with applicable laws, rules and regulations. 

 

Lien protection

You are protected from claims against your property from any contractor, subcontractor, or supplier who provides goods or services for your project and who is not paid — so-called mechanic’s liens. Learn about Mechanic's Liens on Wikipedia.

 

On-time completion

Your contractor will specify a clearly delineated schedule and completion date, and will supply the skilled workers and agreed-upon materials in a timely fashion.

 

Completion guarantee

If anything goes wrong, Bolster's insurers will step in and fix it at no additional cost to you, ensuring your renovation is completed for the agreed upon budget exactly as specified in the contract.


Funds Control vs. Financial Guarantee

A Surety is a licensed and regulated company (usually part of a larger insurance company) that guarantees one party (the obligee) a certain amount of money if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. Read about surety on Wikipedia.

Features

General Contractor

Architect

Machmaking website

Standardized Renovation Process
Scientific Approach to Obtaining a Fair Price
Collective of High-End and Expert-Vetted General Contractors
20-Step Evaluation & Training Program for General Contractors
Collective of High-End Architects
Integrated Construction Financing Solution with Major Retail Bank
One-Stop-Shop
Expert Advice
Customer Service
Educational Resources
Project Dashboard for Online Project Administration
Standardized Contractual Framework for all Parties
Project Funds Solution
Change Order Solution
Mechanics' Lien Solution
Financial Guarantee (via Payment and Performance Bond)
12-Months Warranty
Project After Care

After seeing amazing results with various clients, we made Bolster our go-to renovation solution. Their model, and the protections afforded by their financial guarantee product, are literally changing the way renovation is done in NYC.
— Sean McPartland, VP Preferred Client Group, Citizens Bank, NYC

Full list of protections

 

Qualified contractors only

Bolster contractors are professionally qualified by a leading surety company, which evaluates their personal and professional track record, ensuring they are responsible, reliable, and legally compliant (e.g., fully licensed and bonded). 

 

On-time start

Your contractor will give you a specific start date for your project, and will commence work within a limited grace period. 

 

Up-front, fixed-price

Your contract will specify a single, fixed price so you’ll always know exactly what you’ll pay, and what you’ll get.

 

Cancellation rights

You may cancel your project contract, without cost, for any reason, within three business days of signing. 

 

Guaranteed payments

Your contractor will properly and promptly pay all subcontractors and suppliers, ensuring no disruptions to your renovation. 

 

Materials warranty

All materials and equipment furnished by your contractor, subcontractors and suppliers will be new (unless otherwise specified). 

 

Workmanship warranty

All work will be 1) performed in a courteous and professional manner, 2) of good quality, 3) free from faults and defects and 4) in conformance with the project contract and any design documents. 

 

Compliance with all laws

Your contractor will conduct all business and work in accordance with applicable laws, rules and regulations. 

 

Lien protection

You are protected from claims against your property from any contractor, subcontractor, or supplier who provides goods or services for your project and who is not paid — so-called mechanic’s liens. Learn about Mechanic's Liens on Wikipedia.

 

On-time completion

Your contractor will specify a clearly delineated schedule and completion date, and will supply the skilled workers and agreed-upon materials in a timely fashion.

 

Completion guarantee

If anything goes wrong, Bolster's insurers will step in and fix it at no additional cost to you, ensuring your renovation is completed for the agreed upon budget exactly as specified in the contract.