PROTECT YOUR STAKE AND LEVERAGE YOUR PURCHASING POWER
Whether you are government, a construction lender or an insurance co paying for reconstruction of a property loss, you have a stake in the success of projects. You also have significant, untapped purchasing presence that could be used to the advantage of projects. BuildPay protects your stake and harnesses your purchasing presence to set projects up to succeed.
HERE’S HOW BUILDPAY WORKS FOR FUNDERS
Funder puts project budget in their own escrow-like account and defines simple payment release rules
Funder invites Owner to approve progress payments for release and Owner invites Contractor, who invites Subcontractors until everyone in the payment-chain is registered in the BuildPay platform. Material Providers are acquired directly by BuildPay per work provider preferences
Funder sees all participants involved electronically shake hands to acknowledge payment agreements/changes, progress payment releases and transparency variables. Materials are procured by Work Providers from a network of Material Providers equipped to accept a BuildPay card that captures detailed material receipts
Accelerated work from assured, accelerated payments brings the project to a close. Project savings is realized and Funder has facilitated a more successful project with their stake more protected than ever before