Buildproof, the first online, secure payment and project management system that protects Arizona homeowners and contractors from remodeling risks, was launched today. The Web site,www.Buildproof.com, provides a simple-to-use solution to the financial risks and anxieties long associated with home remodeling. Arizona is the first target market for Buildproof and the company plans to expand nationwide in the coming months.

Here are a few key facts on Buildproof and the home remodeling industry:

Arizona homeowners experience up to$25 million in annual lossesin 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 bringssafety and stabilityto 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 repairis 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."