Should a ‘payment default’ event occur before completion of an IPEX protected project, the impact to developers and lenders is minimised as:

• Any payment made to the builder via IPEX has either been distributed to approved parties or remains in the account
• The developer can replace the builder as trustee of the project funds, gaining full visibility of all previous transactions and the ability to make payments directly to subcontractors/ suppliers, minimising delays to practical completion