CONSTRUCTION PAYMENT MANAGEMENT SYSTEM AND METHOD WITH HIERARCHICAL INVOICING AND DIRECT PAYMENT FEATURES
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United States of America Patent
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Issued Date -
Oct 23, 2014
app pub date -
Jul 1, 2014
filing date -
Jun 29, 2004
priority date (Note) -
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status (Latency Note)
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Abstract
A construction payment management system stores project data stored on a computer-readable memory for a plurality of construction projects. The system accesses stored project data for a first construction project and electronically generates a first request for payment on behalf of a first participant in the first construction project in response to information received by the application server from the first participant. The first request for payment is generated based at least in part on the accessed project data and is displayed to a general contractor for the first construction project. A payment is initiated from a project owner for the first construction project to the first participant based on the first request for payment after receiving approval of the request for payment from the general contractor. The stored project data stored is then updated based on the payment made to the first participant.
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