Construction payment management system and method with draw notification features
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United States of America Patent
Stats
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May 31, 2016
Grant Date -
Aug 2, 2012
app pub date -
Apr 5, 2012
filing date -
Jun 29, 2004
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Systems and method for managing a construction payment process. When instructions are executed by a processor, an application server determines a date on which a draw is to occur for a construction project and generates a notification. The notification includes an indication of the date on which the draw will occur and an invitation to initiate a request for payment to be included in the draw. The application server then determines a plurality of participants associated with the construction project to be included in the draw and transmits the notification to the determined plurality of participants. The application server initiates the draw on the determined date and at least one participant of the determined plurality of participants receives a payment in the draw.
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