Capability statement: Financial governance
Financial strength & probity
<BUILDER NAME> is proud to offer subcontractor payment transparency via IPEX to reduce risk for our clients & their financiers.
We know how big the insolvency risk is to our clients. We also know how difficult It is to assess a builders’ true financial position through upfront due diligence alone.
Our strong financial position allows us to provide additional surety to our clients by managing progress payments via IPEX.
IPEX protects developers & their financiers against any unforeseen builder cashflow issues by ‘ring-fencing’ each progress payment to the project & allowing the developer to verify subcontractor and supplier payments before approving subsequent progress claims.
We offer IPEX to our clients for 2 reasons:
- to validate our stated financial position &.
- to remove a critical delivery risk for developers: non-payment of subcontractors & suppliers
For more information, please visit: www.ipex.com.au
Capability statement: Affirmations
For use on builder website (Affiliations/Capabilities)
<BUILDER NAME> is IPEX-Ready. IPEX protects developers & their financiers against any unforeseen builder cashflow issues by ‘ring-fencing’ funds to the project & allowing verification of subcontractor and supplier payments before subsequent claims are approved.
Tender Request: Subcontractor info
Subcontractor & Supplier payments for this project will be managed transparently via IPEX payment protection software.
To provide further confidence of prompt & in-full payment on this project, <BUILDER NAME> will manage subcontractor & supplier payments via IPEX.
IPEX ‘ring-fences’ progress payments to this project, ensuring that only approved subcontractors & suppliers can be paid from the project-specific account
The developer & lender can check that funds have reached the subcontractors and suppliers linked to each claim before approving subsequent progress claims
Practical controls actively prevent fraud and greatly reduce the risk of subcontractor and supplier non-payment in the event of builder insolvency
IPEX is FREE to subcontractors & suppliers; there is no change to standard progress claim/payment processes.
For more information about IPEX, click here: https://ipex.com.au/payment-protection-for-subcontractors/