Project: Construction and Repair of Bridges
Location: Various locations in Rhode Island
Project Type: Transportation and Infrastructure
Services: Funds Control

Description of Project:
The project consisted of construction and repair of thirteen bridges located in Rhode Island. The repairs were necessary to ensure public safety and also to improve traffic flow. Due to reorganization issues within the general contractor, the surety elected to finance the projects.

Beacon’s Role/Services:
The surety retained Beacon to provide funds control services on the thirteen bridge projects. Beacon established and controlled the escrow account and issued checks for all project related expenses. Other services included generation of cost to complete analyses and cash flow projections with monthly updates, generation/issuance of monthly reports to document all expenditures from project accounts, and processing of bond claims. Beacon also reviewed and prepared major claims associated with the various projects.

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