BUILDER PROTECT YOUR PROJECT
NO MATTER THE SITUATION

Tailored Oversight & Control to Suit Every Scenario

IPEX allows developers to tailor the level of security / control as they deem necessary – this is typically influenced by the specifics of the current project situation and/or their relationship with the builder.

Transparency & oversight can be varied greatly, & builder payment can also be directly linked to rightful payment of all subcontractors & suppliers.

As you’d expect, builders on distressed projects tend to be managed with higher levels of oversight/control, while those willingly accepting IPEX terms on a new project tend to get more ‘builder-friendly’ set-ups.

IPEX Project Applications

PREVENTION FROM DAY 1:
PROTECT AGAINST FUTURE BUILDERS’ CASHFLOW ISSUES

Guard against the potential impact of other, less-feasible developments linked to your builder
Additional protection when working with a builder for the first time or builder is ‘stepping up’ a level
Provide lender comfort should builder due diligence has raised minor red flags
Provide lender comfort on developer-builder projects

MID-PROJECT IMPLEMENTATION:
GUIDE ‘TROUBLED’ PROJECTS TO COMPLETION SAFELY

‘Controlled’ payments to assist your builder with funding supplier deposits
‘Ring-fence’ additional payments outside of the
contract to ensure they’re spent on your project
Move forward with the builder despite substantiated instances of non/delayed payment of subcontractors or suppliers

Regardless of the application, IPEX does not change the agreement between a developer & their builder, it just provides the developer with enough transparency & oversight to confirm that the contract is being honoured.

IPEX As A Preventative Measure

IPEX As Mid Project

IPEX Scenario Application Overview

Developer Protections under IPEX

All progress payments are ring-fenced to the project & can only be used to pay approved subcontractors & suppliers on your project
All subcontractors & suppliers are subject to full KYC/AML checks & have account details independently verified before they are eligible for payment. BSB & Account Numbers are then cross-referenced with the payment file the builder submits – payment is blocked if details don’t match
The developer can view (and if need be, approve of) any subcontractors & suppliers that are linked to the project account before they are eligible for payment
The developer can confirm which subcontractors & suppliers have been paid, when & how much* before approving additional claims, reducing risk of misappropriation & making ‘cost to complete’ reports far more reliable
In cases where risk is higher or greater control is deemed necessary, the developer can ‘isolate’ a specific subcontractor or supplier for targeted payment
Certain ‘key trades’ may be set to ‘open book’ to satisfy oversight requirements including the payment of supplier deposits or similar, whilst other contract/payment values can remain confidential (payments made under standard view are expressed as a percentage of contract value which is sufficient to ensure amounts paid are in line with work performed onsite)
If required, the developer may elect to link the payment of builders’ entitlements to subcontractor/supplier payments – an active incentive for the builder to distribute funds quickly & in full

* Standard developer portal view shows payment as % of contract value. Open book developer portal view shows subcontract/payment values.

$1B+ in funds protected and counting

What Our Customers Have to Say

"At Frasers, we take our commitment to every project, and every investor, builder, subcontractor, supplier, and customer we work with seriously. That means putting in place financial frameworks and processes to ensure that every dollar is used for its intended purpose, and there is full accountability and transparency over the budget for a project.” “We’re so excited about the Encompass development, which has a real ‘wow’ factor, and through IPEX we’re better positioned to deliver the project securely and successfully.”

Sarah BloomGeneral Manager Development Victoria

"From the moment I understood what IPEX provided I had no hesitation in introducing it to BlueScope. With such a major capital works project it was clearly a very prudent risk management tool. With hundreds of millions of dollars being paid to suppliers and subcontractors through major contractors, securing certainty that monies were being delivered into the accounts of the substantial number of subcontractors and suppliers was critical.“

Steve ChandlerCEO

"After a year of utilising the IPEX platform on one of our key commercial construction projects, the experience has been overwhelmingly positive. The platform’s user interface and our customer service experience have exceeded our expectations, significantly bolstering the security and efficiency of our collaboration with the builder. The adoption of IPEX has been embraced by the builder and & it provides additional comfort to trades particularly with the current construction industry challenges."

John VickersDirector

“Based on our experience IPEX should be mandatory. It is now an integrated and essential part of our governance. It’s delivering a new standard of providing trust downstream to our subcontractors and suppliers that they’ll be paid and upstream to our clients and the financial institutions funding these projects.”

Ken O’ConnorDirector

“IPEX delivers the security of funds subcontractors need on projects. Everyone prices risk into jobs; however, with the IPEX concept, there is a reduction of payment risk, which should translate into a more competitively priced trade insurance outcome. It’s really in everyone’s best interests in the long run to use IPEX.”

Sam LeslieGeneral Manager

“Once we were aware of IPEX and decided to implement this new standard for project payments, it was a seamless onboarding and end-user experience. It reduces risk and addresses trust and relationship building in one platform. This will put us in a powerful position as the demand for construction labour increases.”

Rob MoolmanManaging Director

BUILDER PROTECT YOUR PROJECT NO MATTER THE SITUATION