Project Trust Accounts are now a legislated compliance requirement for many projects in Queensland and an increasingly used payment process on tenders nationally. Backing your builds with IPEX can give you a competitive edge and help you win more contracts.
Our online platform helps you track multiple projects, streamline project payments, avoid disputes, and record all transactions for your build, while making it easy to distribute payments to verified subcontractors and suppliers. The IPEX Platform integrates seamlessly with Macquarie Business Banking’s project trust and retention account facilities to provide payment and reconciliation capabilities.
When you implement IPEX, you show developers and lenders that you manage their funds responsibly.
Under the Building Industry Fairness (BIF) Act, all builders are required to comply with current/incoming reforms which include the implementation of Project Trust Accounts for eligible contracts. The Queensland Building & Construction Commission (QBCC) will monitor builder compliance with the trust account framework. You can read more about Project Trust Accounts and phased Implementation here: Trust account framework | Department of Energy and Public Works (epw.qld.gov.au)
IPEX is a tool that, if used correctly, will assist Builders to meet their obligations under the new QBCC framework.
IPEX Project Trust Accounts are held with Macquarie Bank Limited (MBL). Macquarie Business Banking is a division of MBL.