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See how IPEX works; reduce risk without changing industry-standard processes
IPEX helps everyone get paid what they’re entitled to without changing subcontractor/builder claim or QS certification processes.
With IPEX, subcontractor and supplier payments can be validated against each certified claim, allowing non-payments to be identified & addressed before further payments are approved.
Checking payments against claims
The ‘% Complete’ on each claim represents the amount of work that has been performed onsite for that trade. While there may be discrepancies in budget vs subcontract value, the ‘% Complete’ should broadly align to the percentage of the contract that has been paid to the relevant subcontractor once the previous progress payment has been distributed.
Validating the builders’ ‘stat dec’
In this example, IPEX shows that the electrical subcontractor has not been paid in the past month despite Electrical Services being included in the builders’ previous claim. The amount paid to date is also significantly lower than the amount already certified. The developer can now address this with the builder & have this remedied before approving the next claim.Use cases
Who benefits
Developers
Reduce the risk/impact of builder insolvency. Deter distressed builders from tendering and protect your project against future builder cashflow issues.
Builders
Leverage your strong financial position into more contracts and better commercial terms without sharing commercially sensitive information.
Lenders
Prevent loaned funds from being diverted to other projects linked to your builder (or developer). Reduce risk and automate oversight for developer-builder lending.
Project managers
De-risk builder recommendations and identify non-payment of subcontractors/ suppliers immediately. Reduce reputational risk while maximising the chances of successful project delivery.
Subcontractors and Suppliers
Work for builders who won’t risk your entitlements to cashflow other projects. Reduce your risk of non-payment in the event of builder insolvency.
Construction lawyers
Add practical controls to existing legal protections. Best practice risk mitigation for your property developer clients.