BuildPay makes your project more attractive to contractors, subcontractors and material providers. When their chronic cash-flow issues disappear, your project goes faster and costs go down. Ask your bank about using BuildPay.
The Problem with Construction
The BuildPay Advantage
BROKEN PAYMENT CHAIN
The construction industry suffers from the worst cash-flow and accounts receivable of any major industry in the world.
Even if you expect to pay your contractor on time, subcontractors and material providers expect to wait to get paid and they factor that past history into their pricing.
Construction costs less and work accelerates when current payment issues are removed for every provider of oversight, work and materials on your project.
HOW BUILDPAY WORKS FOR OWNERS
Ask your construction lender about using BuildPay
Once your Funder is set up, you invite your contractor, who invites their subs until everyone providing oversight, work or materials is set up to get paid from your bank, through BuildPay instructions. BuildPay independently sets up material providers that you and your work providers want to use
You approve payment requests from your contractor, which triggers payment releases directly to the contractor and subcontractors for contractor-approved work. Material payment releases occur when materials are procured unless otherwise instructed. Repeat until project is complete and all work is approved