Managing Disbursements Overview
Use the system to disburse funds to Subcontractors and Sub-Tiers in payment for work performed on a project. Electronic funds disbursement on the system simplifies and expedites the payment process.
Note: Funds may also be disbursed by a Title Company or alternate organisation to all participants in the period.
Typical Disbursement
All period participants whose status is Requested to be Paid are paid in one disbursement. Funds are transferred to project participants electronically.
If the Owner is on-system, theOwner must approve the payment prior to disbursement.
Note: An Authoriser must approve disbursement if the project uses the Require Disbursement Authorisation for Subcontractor Payments project setting.
Authorise Period Payments
- Authoriser reviews the payment status for participants on the Authorise Payment screen.
- Authoriser selects payments to disburse.
- If all the payments are correct,as an Authoriser, choose the Save & Send to Disburser button.
Manage Period Payments
- Disburser reviews the payment status for participants on the Manage Period Payments screen.
Note: Participants whose payment status is Held are not eligible to be paid.
- If all the payments are correct, as a Disburser:
- Enter PIN
- Choose Disburse Selected button.
- A Status screen confirms the funds are queued for EFT payment.
Verify Payments
Verify payment amounts and disbursement status on the Manage Period Paymentsscreen.
Payment Receipts
When payment has been disbursed, Subcontractors receive an email notification and an action to view their Payment Receipt.
The Payment Receipt confirms that EFT payment has been transmitted. It includes:
- Date processed
- Amount approved
- Any applicable fees.
Other Disbursement Actions
- Split Payments and Joint Cheques
See Creating Split Payments and Joint Cheques. - Partial Payments
See Creating Partial Payments. - Enterprise-Wide Disbursement
See Enterprise Wide Disbursement. - Discounted Payments
See Contract Discount Terms Overview.
Last Published Wednesday, July 10, 2024