Buildproof Launches First Online System to Protect Arizona Homeowners and Contractors against Remodeling Risks

SCOTTSDALE, Ariz. (Business Wire EON) April 23, 2008 -- Here are a few key facts on Buildproof and the home remodeling industry:

-- Arizona homeowners experience up to $25 million in annual losses in the remodeling industry due to contractor fraud. Buildproof's secure payment system not only protects these homeowners, but also provides contractors with the ability to secure payments before, during and upon completion of the home improvement project.

-- Buildproof brings safety and stability to the $300 billion home improvement and remodeling industry by providing a "safe house" money system. Project funds are held by an independent third-party financial institution to ensure safe handling and timely payment processing. There is no cost for homeowners to use the Buildproof system and contractors are only required to pay a small percentage of the total project cost.

-- According to the most recent study by the National Association of Consumer Agency Administrators, home improvement and repair is the number one most complained about industry in the United States. Buildproof's project management system enables homeowners and contractors to streamline communication and track project milestones, resulting in improved communication and peace of mind for both parties.

The Buildproof system was developed after extensive research into the frustrations experienced by both homeowners and contractors. Buildproof's founders created a multi-layered solution allowing every project, no matter how big or small, to be paid for, managed and tracked online. Each aspect of a remodel can be spelled out through the Web site, including project details and payment terms. The system has seen rigorous testing in the months leading up to the launch of the site.

"Buildproof proactively prevents problems by securing the payment process and improving communication throughout the project," said Alan Farber, chief executive officer and founder of Buildproof. "Homeowners and contractors can both relax, knowing that all the work will be completed and that the money is safe and will be paid on time. Our chief priority is to provide a system that protects the interests of both parties while facilitating the best project outcome."

Everyone has heard the stories of home remodeling gone wrong - contractors walking off with money, homeowners not facilitating timely payments or completed projects not up-to-par. Buildproof's innovative technology is changing the way homeowners and contractors interact by eliminating the problems long associated with the home remodeling industry.

"Buildproof brings a new standard to the construction and remodeling world," said Greyson Geiler, chief financial officer and founder of Buildproof. "The secure payment system ensures expectations are met and allows homeowners and contractors to focus on the project at hand and not the safety of their money."

About Buildproof

Buildproof's mission is to bring safety, simplicity and stability to the construction and remodeling industry.

It is an online payment and project management system for homeowners and contractors that removes the unnecessary financial risk and anxiety from home renovation. Buildproof provides a protected environment for both contractors and homeowners, to facilitate timely and proper payment, improve communication, and clear milestone and deadline management. For additional information, please visit www.buildproof.com, e-mail info@buildproof.com or call 888-295-7904. 6900 East Camelback Road, Suite A-37, Scottsdale, AZ 85251.

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