CONSTRUCTION PAYMENT MANAGEMENT SYSTEM AND METHOD WITH LIEN WAIVER EXCHANGE FEATURES
First Claim
1. A method of managing a construction payment process, the method comprising the acts of:
- establishing electronic communication between a payee device and a construction project management server, wherein the payee device is associated with a payee in a construction project;
transmitting a lien waiver document to the payee through the payee device with a request for a signature;
electronically receiving a signed lien waiver document from the payee;
storing the signed lien waiver document to a computer-readable memory and temporarily preventing a payor from accessing the signed lien waiver document;
transmitting a payment to the payee from the payor after receiving the signed lien waiver document and before transmitting the signed lien waiver document to the payor; and
electronically transmitting the signed lien waiver document to the payor only after the payment has been transmitted to the payee.
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Accused Products
Abstract
A system and method for managing a construction payment process including establishing electronic communication between a payee device and a construction project management server and transmitting a lien waiver document to the payee through the payee device with a request for a signature. A signed lien waiver document is received from the payee and stored to a computer-readable memory. The payor is temporarily prevented from accessing the signed lien waiver document. A payment is transmitted to the payee from the payor after receiving the signed lien waiver document, but before transmitting the signed lien waiver document to the payor. Only after the payment has been transmitted is the signed lien waiver document transmitted to the payor.
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Citations
22 Claims
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1. A method of managing a construction payment process, the method comprising the acts of:
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establishing electronic communication between a payee device and a construction project management server, wherein the payee device is associated with a payee in a construction project; transmitting a lien waiver document to the payee through the payee device with a request for a signature; electronically receiving a signed lien waiver document from the payee; storing the signed lien waiver document to a computer-readable memory and temporarily preventing a payor from accessing the signed lien waiver document; transmitting a payment to the payee from the payor after receiving the signed lien waiver document and before transmitting the signed lien waiver document to the payor; and electronically transmitting the signed lien waiver document to the payor only after the payment has been transmitted to the payee. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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11. A construction payment management system comprising:
an application server including a processor and a memory, the memory storing an electronic holding bin and a draw module, the draw module including computer executable instructions that, when executed by the processor, cause the application server to establish electronic communication between a payee device and the application server, wherein the payee device is associated with a payee in a construction project, transmit the lien waiver document to the payee through the payee device with a request for a signature, electronically receive a signed lien waiver document from the payee, store the signed lien waiver document to the electronic holding bin, temporarily prevent a payor from accessing the signed lien waiver document, transmit a payment to the payee from the payor after receiving the signed lien waiver document and before transmitting the signed lien waiver document to the payor, and electronically transmit the signed lien waiver document to the payor only after the payment has been transmitted. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A method of managing a payment process, the method comprising the acts of:
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establishing electronic communication between a payee device and a project management server, wherein the payee device is associated with a payee in a project; transmitting an unsigned lien waiver document to the payee through the payee device; electronically receiving a signed lien waiver document from the payee; storing the signed lien waiver document to a computer-readable memory and temporarily preventing a payor from accessing the signed lien waiver document; transmitting a payment to the payee from the payor after receiving the signed lien waiver document and before allowing the payor access to the signed lien waiver document; and allowing the payor electronic access to the signed lien waiver document only after the payment has been transmitted to the payee.
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Specification