COVID-19 Update: Apply Online - Fast Service 
« Back to Glossary Index

In surety, funds control is the process of having a third party take control of a contractor’s earned revenue on a given project and paying the appropriate subcontractors and suppliers on that project with the earned revenue.

 

Funds control is a special tool that helps contract bond underwriters provide contractors with performance and payment bonds when they may not be able to qualify without it. Funds control can also be called escrow or Funds Administration.