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MEMO
#1040: Pay Notification and Check Detail - 05/16/03
Effective
May 17, 2003, all contractor and inspector checks will be
preceded by a check detail sent via fax or e-mail.
In
the past, we have printed the payment detail (date completed,
loan #, order #, invoice #, property address, and amount)
on the check stub, or on an attachment sent with the check
if the number of orders exceeded the space available on the
check stub.
The
new procedure will provide you with the same detail by e-mail
or fax (depending on your default setup) a few days prior
to the actual mailing of the check, notifying you in advance
of the funds that will be sent to you. The e-mail/fax notification
will read, "The following is the payment detail for check
# 123456, created on xx/xx/xx, which you will receive later
this week. This report will serve as your supporting documentation.
Please retain this report for your records."
The
check stub accompanying the payment itself will simply read,
"Payment details sent electronically via e-mail/fax."
Should
you have any questions about this new procedure, please contact
the Accounting Department at extension 1156.
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