Construction payment management system and method with hierarchical invoicing and direct payment features
First Claim
1. A construction payment management system comprising:
- an application server including a processor and a computer readable memory, wherein the computer readable memory storesa construction project profile that identifies a plurality of participants associated with a construction project and a role for each of the plurality of participants in the construction project, wherein, according to the construction project profile, the plurality of participants includes a first participant, a second participant, and a third participant, and wherein, according to the construction project profile, the third participant is a payor for the construction project, the second participant is a contractor that is contractually subordinate to the third participant for the construction project, the first participant is a contractor that is contractually subordinate to the second participant for the construction project, and the first participant is not directly in contract with the third participant for the construction project,an identifier of a first participant device, a second participant device, and a third participant device corresponding to the first participant, the second participant, and the third participant, respectively, andinstructions that, when executed by the processor,establish electronic communication between the application server and each of the first participant device, the second participant device, and the third participant device,generate an electronically-executed first request for payment on behalf of the first participant in the construction project in response to information received from the first participant device,transmit the first request for payment to the second participant device,generate an electronically-executed second request for payment on behalf of the second participant based on the first request for payment,transmit the second request for payment to the third participant device,transmit a first payment directly from the third participant to the first participant, andtransmit a second payment directly from the third participant to the second participant.
1 Assignment
0 Petitions
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.
136 Citations
21 Claims
-
1. A construction payment management system comprising:
an application server including a processor and a computer readable memory, wherein the computer readable memory stores a construction project profile that identifies a plurality of participants associated with a construction project and a role for each of the plurality of participants in the construction project, wherein, according to the construction project profile, the plurality of participants includes a first participant, a second participant, and a third participant, and wherein, according to the construction project profile, the third participant is a payor for the construction project, the second participant is a contractor that is contractually subordinate to the third participant for the construction project, the first participant is a contractor that is contractually subordinate to the second participant for the construction project, and the first participant is not directly in contract with the third participant for the construction project, an identifier of a first participant device, a second participant device, and a third participant device corresponding to the first participant, the second participant, and the third participant, respectively, and instructions that, when executed by the processor, establish electronic communication between the application server and each of the first participant device, the second participant device, and the third participant device, generate an electronically-executed first request for payment on behalf of the first participant in the construction project in response to information received from the first participant device, transmit the first request for payment to the second participant device, generate an electronically-executed second request for payment on behalf of the second participant based on the first request for payment, transmit the second request for payment to the third participant device, transmit a first payment directly from the third participant to the first participant, and transmit a second payment directly from the third participant to the second participant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
Specification