Bondpay: Peace of Mind for Home Improvers

LONDON, April 11, 2011 - Rogue traders, lost deposits and disputes over unfinished home
improvements look set to be a thing of the past with the launch of Bondpay
(www.bondpay.co.uk/) - a nationwide scheme to protect consumers when
undertaking building works.

The revolutionary payment scheme uses a system, registered with the FSA
(www.fsa.gov.uk/), that gives peace of mind and certainty to both
homeowners and builders alike, eliminating financial risk in the transaction
and giving protection before, during and after the work is completed. The
scheme is completely free to the homeowner and provides added protection by
way of a 12-month 'Bondpay warranty' supplementing those provided by the
contractor.

Homeowner and contractor both register with Bondpay describing the work
to be done and the agreed price for the job. The homeowner then securely
lodges the money for the work up front, giving the contractor the confidence
and certainty he will be paid the full amount on completion.

The money is held at HSBC in a special client account where both the
homeowner and the contractor can see it but not touch it. Only when the work
is completed, to the satisfaction of the homeowner, is payment authorized to
the contractor.

On the off chance that there is a dispute with the builder, Bondpay will
step in and mediate with both parties to avoid the expense and worry of legal
battles. The scheme also protects the homeowner should the builder cease to
trade or refuse to come back.

TV's consumer champion Martin Roberts (www.martinroberts.co.uk/)
added, "home improvements are not a certain process and unfortunately, some
contractors have given the rest a bad name. Bondpay is exactly what the
industry needs - a bulletproof and secure way to pay for home improvements
without any risk". The building industry welcomes Bondpay, allowing them to
buy materials, allocate resource and complete the job with the knowledge and
certainty that they will get paid, 100% (uncommon in today's building
industry).

It's estimated that rogue traders fleece 90,000 households each year with
a staggering GBP170m stolen from unsuspecting homeowners.

Notes to editors: The Bondpay process uses 'Transpact' (
www.transpact.com/) which is registered by the FSA and by HMRC.
Bondpay is an Associate Member of 'Trustmark' - the only government endorsed
not-for profit organization, which focuses on protecting the UK Consumer with
their Home Improvements.

BONDPAY PRESS OFFICE: CLICK HERE (www.mediawasp.com/bondpay): murray.harkin at mhapr.co.uk Tel: +44(0)79-0990-2741 or Tel: +44(0)207-043-5444.