Builder insolvency

Protection for subcontractors

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IPEX

Helping subcontractors get paid quickly and in full

Developers and their funding partners are now mandating the use of IPEX software on their projects to protect subcontractor payments. IPEX ensures that only approved subcontractors and suppliers linked to that project can be paid from the IPEX account.

Importantly, IPEX also prevents the builder from accessing subcontractor entitlements, removing the motivation to withhold payment and greatly reducing the risk of non-payment in the event of builder insolvency.

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Project protection

How does IPEX protect subcontrator payments?

IPEX stops many of the undesirable builder behaviours that put subcontractor entitlements at risk by:

  • Preventing builders from using subcontractor entitlements to cash flow other projects
  • Giving builders an active incentive to pay subcontractors quickly and in full: builders only get their entitlements once all subcontractor/supplier payments linked to a claim have been paid/secured

Transparency

IPEX allows developers to check that funds have reached subcontractors and suppliers linked to each claim before releasing builder payment/approving subsequent progress claims.

Security

Practical controls actively prevent fraud and greatly reduces the risk of subcontractor and supplier non-payment in the event of builder insolvency.

Additional IPEX benefits

Reducing subcontractor risk of non-payment

Lowers risk of builder insolvency impacting a project*

Reduces incidence of payment fraud

Encourages prompt payment of subbies

Rapid identification of subbie non-payment

Protects subcontractor retention money**

Protects funds already paid to builder in the event of insolvency

Flag payment disputes
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*When IPEX is implemented pre-contract award.
**Requirement for subcontractor retention to be held under IPEX is a commercial decision between developer/lender & builder. IPEX cannot guarantee subcontractor payment.

1000+ subcontractors & suppliers are already being paid securely through IPEX

How IPEX protects

The builder is prevented from paying themselves
or any other subcontractor not linked to the project

IPEX does not alow payments to entities unless they have been onboarded and linked to the specific project

IPEX also checks BSB and Account numbers in ABA files against those provided directly by the subcontractors & suppliers to prevent errors/fraudulent payments

With IPEX, the developer can see who has been paid when and how much*

Approve builder withdrawal requests once all subcontractors linked to a claim have been paid OR allocate the protion of any payment to be accessible buy your builder.

View projecr retention account balances including the amount paid to the builder to date and the sum approved for builder withdrawal. Click through to view full transaction history.

View the complete list of onboarded subcontractors and suppliers the builder has linked to your project and that are approved for payment. Click through to view full payment history for that entity.

View wich subcontractors have been paid, when and what % of contract paid.

Developer/lenders can isolate subcontractors for targeted payment AND deactivate subcontractors once payment reaches 100% of contract value to ensure no further payment.

*Standard developer portal view shows payment as % of contract value / Open book developer portal view shows payment values.
Dislaimer: IPEX does not guarantee subcontractor supplier payment, does not process payment; project accounts are builder operated; IPEX provides limits and practical controls over how funds paid into the IPEX account. IPEX does not recover funds owned to subcontractors or suppliers.

Testimonials

What our customers have to say

“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
Ken O'Connor
“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
Sam Leslie
“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
Rob Moolman
"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
Sarah Bloom
"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
Steve Chandler
"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
John Vickers
“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
Ken O'Connor
“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
Sam Leslie
“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
Rob Moolman
"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
Sarah Bloom
"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
Steve Chandler
"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
John Vickers
Case studies

Customer success stories

Balmain & Co

IPEX platform transforms project bank account payments benchmarks for better building industry outcomes.

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Nash Project Management

IPEX payments platform incorporated into tender system for greater peace of mind.

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Kervale

IPEX sets new benchmarks for ethical and transparent transfer of project funds from developer to builder, sub-contractors and suppliers.

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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.

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Builders

Leverage your strong financial position into more contracts and better commercial terms without sharing commercially sensitive information.

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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.

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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.

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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.

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Construction lawyers

Add practical controls to existing legal protections. Best practice risk mitigation for your property developer clients.

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Updates on future IPEX developments and upcoming tenders