Digitalisation of construction payment process to protect project funds and guarantee fast payments for everyone in the supply chain. Pilot program with UK builder supported.

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**ProjectPay's innovative project owner funding and contractor payment approach helps SME businesses transition back into a situation where they can pay for their employee's wages out of their income by ensuring government building stimulus funds are directly paid against works completed by all contractors in the supply chain.**ProjectPay addresses two of the biggest problems the building and construction industry has faced for decades that urgently need to be solved to ensure that government construction stimulus, new build and renovation project funds are paid against contracts for works and released immediately against approved invoices without the need for credit checks, directors guarantees or any interest charges. Protecting users from contractor insolvencies and ensuring businesses have the cash flow to pay employees and suppliers to complete projects.ProjectPay's proprietary technology platform enables the use of cascading accounts without any additional administration or compliance burden to ensure funds are protected against business insolvency. The ProjectPay solution includes the more sophisticated elements missing from PBAs (Project Bank Accounts) by providing the tools for tracking claims and variations to ensure that funds held get paid to the right people once certain criteria are met, allowing users to exchange information about claims to manage tracking approvals, holding funds and releasing or withholding them based on particular triggers (e.g. a dispute). Whilst standardising contracts and subcontracts and ensuring compliance to UK payment laws. By deploying technology to remove the payment risk we are able to offer a 'buy now, pay later' or in this case a 'build or renovate now, pay later' offer which has wide appeal to provide quick, easy access to funds to maximise government stimulus spending in the sector.**About ProjectPay**:**We created a solution for a BIG problem...**For decades, the Government and the building and construction industry has been looking to solve the HUGE problem of project payments.According to the Office for National Statistics in 2018 "the construction sector made up 3,202 insolvencies, which is the highest of any sector in 2018 and a 14.7% increase on the 2,792 insolvencies seen in 2017". Billions of pounds remains unpaid to small businesses that have done work and never been paid because the builder's business has collapsed without paying their trade subcontractors who did the work. Sadly, as we see all too often in the media, it's project owners who are left high and dry. Overnight they find their project funds have disappeared due to either builder collapse or shonky business practises.ProjectPay Platform is the new way to manage all building project payments (big or small).It's safe, simple and secure. ProjectPay Platform uses proprietary digital technologies that guarantees small businesses and trade contractors are paid, fast, for the work they've done -- because that's the way it should be.