Construction payment management system and method with document tracking features

• US 20070078771A1
• Filed: 08/24/2006
• Published: 04/05/2007
• Est. Priority Date: 06/29/2004
• Status: Active Grant

• Current Assignee: Textura LLC (Oracle Corporation)
• Original Assignee: Textura LLC (Oracle Corporation)
• Inventors: Eichhorn, William, Allin, Patrick, Cherry, Charles
• Granted Patent: US 7,925,584 B2
• Time in Patent Office: Days
• US Class Current: 705/52
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/08 Construction

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.

Claims

1. A 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, the method comprising:

assigning at least one enforcement action to the at least one document wherein the enforcement action is automatically effected if the at least one document is not transferred between the at least two participants.

2. The method of claim 1 and further comprising selecting the at least one document.

3. The method of claim 2 wherein the at least one document is selected based on a selection electronically received from at least one of the plurality of participants.

4. The method of claim 2 wherein the at least one document is automatically selected.

5. The method of claim 1 and further comprising assigning a status to the at least one document.

6. The method of claim 5 wherein the status includes at least one of not complete, not signed, signed, not received, received, not received, active, expired, and not applicable.

7. The method of claim 5 wherein the status is assigned to the at least one document based on a selection electronically received from at least one of the plurality of participants.

8. The method of claim 5 wherein the status is automatically assigned.

9. The method of claim 5 and further comprising automatically electronically notifying the at least two participants of the status.

10. The method of claim 5 and further comprising updating the status and automatically electronically notifying the at least two participants of the updated status.

11. The method of claim 1 and further comprising automatically electronically notifying the at least two participants of the at least one enforcement action.

12. The method of claim 1 wherein the at least one enforcement action is assigned based on a selection electronically received from at least one of the plurality of participants.

13. The method of claim 1 wherein the at least one enforcement action is automatically assigned.

14. The method of claim 1 and further comprising automatically effecting the at least one enforcement action if the at least one document is not transferred between the at least two participants.

15. The method of claim 14 wherein automatically effecting the at least one enforcement action includes automatically notifying at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

16. The method of claim 14 wherein automatically effecting the at least one enforcement action includes automatically holding a payment to at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

17. The method of claim 16 and further comprising automatically electronically notifying at least one of the plurality of participants of the held payment.

18. The method of claim 1 wherein the at least one document includes at least one of an agreement, a form, and a certificate.

19. The method of claim 1 and further comprising assigning an expiration date to the at least one document.

20. The method of claim 19 wherein the expiration date is assigned based on a selection electronically received from at least one of the plurality of participants.

21. The method of claim 19 wherein the expiration date is automatically assigned.

22. The method of claim 19 and further comprising automatically notifying at least one of the plurality of participants of the expiration date approximately on the expiration date.

23. The method of claim 19 and further comprising assigning at least one expiration notice date to the expiration date.

24. The method of claim 23 and further comprising automatically electronically notifying at least one of plurality of participants of the expiration date approximately on the at least one expiration notice date.

25. The method of claim 1 and further comprising electronically transferring the at least one document between the at least two participants.

26. The method of claim 25 and further comprising automatically electronically notifying at least one of the plurality of participants of the at least one document electronically transferred between the at least two participants.

27. A construction payment management system for a construction project 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 of participants during the course of the construction project, the system comprising:

a document tracking module for assigning at least one enforcement action to the at least one document wherein the at least one enforcement action is automatically effected if the at least one document is not transferred between the at least two participants.

28. The construction payment management system of claim 27 wherein the document tracking module selects the at least one document.

29. The construction payment management system of claim 28 wherein the document tracking module selects the at least one document based on a selection electronically received from one of the plurality of participants.

30. The construction payment management system of claim 27 wherein the document tracking module assigns a status to the at least one document.

31. The construction payment management system of claim 30 wherein the status includes at least one of not complete, not signed, signed, not received, received, not received, active, and expired.

32. The construction payment management system of claim 30 wherein the document tracking module assigns the status based on a selection electronically received from at least one of the plurality of participants.

33. The construction payment management system of claim 30 wherein the document tracking module automatically electronically notifies the at least two participants of the status.

34. The construction payment management system of claim 30 wherein the document tracking module updates the status and automatically electronically notifies the at least two participants of the updated status.

35. The construction payment management system of claim 27 wherein the document tracking module automatically electronically notifies the at least two participants of the at least one enforcement action.

36. The construction payment management system of claim 27 wherein the document tracking module assigns the at least one enforcement action based on a selection electronically received from at least one of the plurality of participants.

37. The construction payment management system of claim 27 wherein the document tracking module automatically effects the at least one enforcement action if the at least one document is not transferred between the at least two participants.

38. The construction payment management system of claim 37 wherein the document tracking module automatically effects the at least one enforcement action by automatically notifying at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

39. The construction payment management system of claim 37 wherein the document tracking automatically effects the at least one enforcement action by automatically holding a payment to at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

40. The construction payment management system of claim 39 wherein the document tracking module automatically electronically notifies at least one of the plurality of participants of the held payment.

41. The construction payment management system of claim 27 wherein the at least one document includes at least one of an agreement, a form, and a certificate.

42. The construction payment management system of claim 27 wherein the document tracking modules assigns an expiration date to the at least one document.

43. The construction payment management system of claim 42 wherein the document tracking module assigns the expiration date based on a selection electronically received from at least one of the plurality of participants.

44. The construction payment management system of claim 42 wherein the document tracking module automatically notifies at least one of the plurality of participants of the expiration date approximately on the expiration date.

45. The construction payment management system of claim 42 wherein the document tracking module assigns at least one expiration notice date to the expiration date.

46. The construction payment management system of claim 45 wherein the document tracking module automatically electronically notifies at least one of plurality of participants of the expiration date approximately on the at least one expiration notice date.

47. The construction payment management system of claim 27 wherein the document tracking module electronically transfers the at least one document between the at least two participants.

48. The construction payment management system of claim 47 wherein the document tracking module automatically electronically notifies at least one of the plurality of participants of the at least one document electronically transferred between the at least two participants.

49. A graphical user interface for a construction payment management system for a construction project 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 of participants during the course of the project, the graphical user interface comprising:

a document status individual page accessible by the at least two participants, the document status summary page displaying at least one enforcement action assigned to the at least one document to be automatically effected if the at least one document is not transferred between the at least two participants.

50. The graphical user interface of claim 49 wherein the at least one document includes at least one of an agreement, a form, and a certificate.

51. The graphical user interface of claim 49 wherein the at least one enforcement action includes automatically notifying at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

52. The graphical user interface of claim 49 wherein the at least one enforcement action includes automatically holding a payment to at least one of the plurality of participants if the at least one document is not transferred between the at least two participants.

53. The graphical user interface of claim 52 and further comprising a hold payment page accessible by at least one of the plurality of participants, the hold payment page receiving a selection from at least one of the plurality of participant, the selection including at least one of a hold payment selection and a release payment selection.

54. The graphical user interface of claim 49 and further comprising a document requirement page accessible by at least one of the plurality of participants, the document requirement page receiving a selection from at least one of the plurality of participants of the at least one enforcement action.

55. The graphical user interface of claim 49 and further comprising a document requirement page accessible by at least one of the plurality of participants, the document requirement page receiving a selection from at least one of the plurality of participants of the at least one document to be transferred between the at least two participants.

56. The graphical user interface of claim 49 wherein the document status individual page displays a status associated with the at least one document.

57. The graphical user interface of claim 56 and further comprising a document requirement page accessible by at least one of the plurality of participants, the document requirement page receiving a selection from at least one of the plurality of participants of the status.

58. The graphical user interface of claim 56 wherein the status includes at least one of not complete, not signed, signed, not received, received, active, and expired.

59. The graphical user interface of claim 49 and further comprising a document requirement page accessible by at least one of the plurality of participants, the document requirement page receiving a selection from at least one of the plurality of participants of an expiration date associated with the at least one document.

60. The graphical user interface of claim 59 wherein the document requirement page receives a selection from at least one of the plurality of participants of an expiration notice date associated with the expiration date.

61. The graphical user interface of claim 49 and further comprising a submit document page accessible at least one of the plurality of participants, the submit document page transferring the at least one document between the at least two participants.