At IPromise, we’re proud to have been waving the flag for this issue, and have developed an affordable and easy to use software solution for this problem. By using IPromise, businesses and contractors can secure their cash flow by securing payment at the quote stage (using our quoting and invoicing facility), that are held in a secure BNZ trust account, released only when both parties agree the job is done, ensuring that payments are made promptly and fairly.
IPromise’s secure payments software is currently being used by contractors and tradespeople across the country to ensure prompt and fair payment for all parties involved in the construction process. With the new law change set to take effect in the coming months, IPromise is well-positioned to continue providing a superior payment solution for the construction industry.
“We’re thrilled to see that the government is taking steps to address the payment issues that have plagued the construction industry for so long,” said Paul Veric, co-founder of IPromise. “But we’re even more excited to offer a solution that has already solved this problem, and goes beyond to deliver additional value to the construction sector. Our secure payments software ensures that all parties are paid promptly and fairly, without the need for new legislation.”
Matt Peacock, co-founder of IPromise, added, “We believe that our software solution offers a superior alternative to the new legislation. By using IPromise, contractors can avoid the administrative burden of complying with new payment regulations, while also providing a more efficient and fair payment process for subcontractors.”