Construction payment management system and method with document tracking features
First Claim
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1. A method of managing a construction payment process involving a plurality of participants associated with a construction project, the method comprising:
- defining, using a computer, a plurality of required documents that must be transferred between at least two participants of the plurality of participants during the course of the construction project, wherein the plurality of participants includes a first participant, a second participant, and a third participant;
displaying on a participant device a list of the plurality of required documents that must be provided by the first participant to the third participant;
receiving, from the second participant through the participant device, a selection of one of the plurality of required documents;
receiving, from the second participant through the participant device, a selection of an enforcement action from a list of enforcement actions, wherein the list of enforcement actions includes a withhold payment action;
assigning, by the computer the selected enforcement action to the selected document;
monitoring, by the computer, a status of the selected document; and
automatically effecting, by the computer, the enforcement action if the selected document is not provided by the first participant to the second participant through the computer, wherein, when the selected enforcement action includes the withhold payment action, automatically effecting the enforcement action includes withholding a payment from the third participant to the first participant.
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Abstract
A system and method of managing a construction payment process involving a plurality of participants associated with the construction project and at least one document to be transferred between at least two participants of the plurality participants during the course of the construction project. One method can include assigning at least one enforcement action to the at least one document wherein the enforcement action is automatically effected if the document is not transferred between the at least two participants.
132 Citations
23 Claims
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1. A method of managing a construction payment process involving a plurality of participants associated with a construction project, the method comprising:
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defining, using a computer, a plurality of required documents that must be transferred between at least two participants of the plurality of participants during the course of the construction project, wherein the plurality of participants includes a first participant, a second participant, and a third participant; displaying on a participant device a list of the plurality of required documents that must be provided by the first participant to the third participant; receiving, from the second participant through the participant device, a selection of one of the plurality of required documents; receiving, from the second participant through the participant device, a selection of an enforcement action from a list of enforcement actions, wherein the list of enforcement actions includes a withhold payment action; assigning, by the computer the selected enforcement action to the selected document; monitoring, by the computer, a status of the selected document; and automatically effecting, by the computer, the enforcement action if the selected document is not provided by the first participant to the second participant through the computer, wherein, when the selected enforcement action includes the withhold payment action, automatically effecting the enforcement action includes withholding a payment from the third participant to the first participant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23)
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Specification