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How do you write a joint check construction?

Joint checks in general When joint checks are involved, two payees must endorse the check in order for that check to be deposited. For example: a contractor may issue a joint check that their subcontractor and their subcontractors supplier must both endorse before payment can be released.

How do you write a joint check construction?

Joint checks in general When joint checks are involved, two payees must endorse the check in order for that check to be deposited. For example: a contractor may issue a joint check that their subcontractor and their subcontractors supplier must both endorse before payment can be released.

How do you write a joint check?

Writing a Joint Check If it needs to be written to two or more companies, be sure to write out the word and. You may also want to write the words jointly or as joint payees to ensure that bankers notice that the check goes to two parties instead of just one.

What does a joint check mean?

Joint checks are checks made out to two payees most often a subcontractor and the subcontractors supplier. An agreement to issue joint checks may come from the top or bottom of the contracting chain.

What is the purpose of a joint check?

Owners and general contractors want to issue joint checks to ensure that subcontractors pay their suppliers, which helps avoid lien and bond claims by the suppliers. Suppliers want joint checks because they increase their chances of actually being paid.

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