In addition to ‘ring-fencing’ funds to your project, IPEX can also further limit how funds can be distributed by the builder down to isolating a specific subcontractor or supplier that those funds are owed to; funds deposited into the IPEX account can only be paid to that entity.

This is ideal for payment of supplier deposits or specific overdue invoices – the developer/lender can ensure funds reach the intended recipient without the risk/admin involved with having to step in and pay them directly.

Once all payments associated with the ‘variation’ request have been made, these controls can be removed.