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.
Protect your stake and fulfill your obligation to make your customers whole.
“When disaster strikes, either as a single loss or a large-scale event, using BuildPay on the reconstruction protects your stake by bringing your customers to the front of the line. Assured payment to providers results in accelerated work and savings on every line item. Reduce your risk, while maintaining your obligations.”
Attract the best bids and save on every line item to get the most for your budget.
“BuildPay’s direct payment system and network of material providers and manufacturers eliminates the need for working capital, which attracts the best bidders to your project – whether they be large or small firms, or WMBEs. Added payment timing controls and project transparency make BuildPay the clear choice for government construction.”
Secure your asset while leveraging superior purchasing presence.
“Grow your loan profile with construction loan projects run through BuildPay’s risk-reducing payment platform. Visibility into every purchased line-item increase inspection efficiency. And direct payment to providers for approved work enables construction to finish faster. Get the competitive edge by offering BuildPay with your construction loans.”
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