Hi everyone. We have run into a situation where 2nd tier subs are no longer able to deposit their joint checks without a guarantee of signature from the 1st tier sub listed on the check. Specifically this is happening to subs that bank at Wells Fargo as the bank has changed their policy.
Has anyone else run into this? We don't want to lose the security of doing joint checks but also don't want to put undue burden on our subs.
Any suggestions are greatly appreciated.
Thanks.
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Janell Wilmers
Senior Controller
MFRG-ICON Construction
Scottsdale AZ
(480) 505-2980
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