Construction payment management system and method with document exchange features
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United States of America Patent
Stats
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Oct 4, 2016
Grant Date -
Nov 13, 2008
app pub date -
Apr 3, 2008
filing date -
Jun 29, 2004
priority date (Note) -
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status (Latency Note)
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Abstract
Systems and methods for managing a construction payment process. One construction of the system includes a computer readable memory and a software enabled user interface. A process is configured to display to a payee via the user interface an electronic notification of a pending payment and a request for an electronically signed document such as a lien waiver. The processor of this construction is further configured to receive the electronically signed document, store it to a computer readable memory, and initiate payment. In some constructions, the processor is further configured to display the electronically signed document to the payer only after payment has been initiated. In some constructions, the processor is further configured to verify that requirements are fulfilled before initiating payment.
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