We receive a joint check as payment on a project. We are a material supplier, the check is issued by the GC and is payable to the sub (our customer) and us (Material supplier) Banks do not want to accept this deposit. Are there any rules governing this situation? Thanks, Pam
Interesting Pam. I have never heard of a bank not wanting to accept a properly endorsed joint check (endorsed by the sub and you). This is standard in the industry (to cut joint checks).