Construction payment management system and method with hierarchical invoicing and direct payment features
First Claim
1. A method of managing a construction payment process, the method comprising the acts of:
- creating an electronically-executed first request for payment on behalf of a first participant in a construction project;
transmitting the first request for payment to a second participant in the construction project;
creating an electronically-executed second request for payment based on the first request for payment;
transmitting the second request for payment to a payment source in the construction project;
directly transmitting a payment to the second participant from the payment source; and
directly transmitting a payment to the first participant from the payment source.
1 Assignment
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Accused Products
Abstract
A system and method for managing a construction payment process. One method embodying the invention can include creating an electronically-executed first request for payment on behalf of a first participant in a construction project, transmitting the first request for payment to a second participant in the construction project, creating an electronically-executed second request for payment based on the first request for payment, transmitting the second request for payment to a payment source in the construction project, directing transmitting a payment to the second participant from the payment source, and directly transmitting a payment to the first participant from the payment source.
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Citations
41 Claims
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1. A method of managing a construction payment process, the method comprising the acts of:
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creating an electronically-executed first request for payment on behalf of a first participant in a construction project;
transmitting the first request for payment to a second participant in the construction project;
creating an electronically-executed second request for payment based on the first request for payment;
transmitting the second request for payment to a payment source in the construction project;
directly transmitting a payment to the second participant from the payment source; and
directly transmitting a payment to the first participant from the payment source. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A construction payment management system comprising:
an application server storing a draw module, the draw module generating an electronically-executed first request for payment on behalf of a first participant in a construction project, transmitting the first request for payment to a second participant in the construction project, generating an electronically-executed second request for payment on behalf of the second participant based on the first request for payment, transmitting the second request for payment to a payment source, directly transmitting a payment from the payment source to the first participant, and directly transmitting a payment from the payment source to the second participant. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41)
Specification