About Configuring Out of Order Disbursements for Owners
Contact your Textura implementation team to set up this feature.
If you, as an Owner organization on TPM, have the ability to disburse funds on a project, you can choose to disburse payments for a future draw before paying out prior draws.
Why Choose Out of Order Disbursement?
Consider using Out of Order Disbursement if a project:
- Is included in a Textura Payment Accelerator Program (TPA)
- Must release funds for a future draw due to special circumstances.
Invoices and Lien Waivers/Statutory Declarations
Caution: You and the General Contractor cannot reject invoices for prior draws after disbursing funds for a future draw. Disbursement of a Sub-Tier's future draw will lock invoices for the Prime Subcontractor and its other Sub-Tiers.
Lien waivers and statutory declarations for a future draw are held until all of the following criteria are met:
- All previous draws have been disbursed for that contract
- All lien waivers/statutory declarations for previous draws have been released
- All previous and current period Subcontractor and Sub-Tier invoices have been paid
- Release timing is set to With Disbursement and 72 hours have passed since disbursal.
Last Published Wednesday, July 10, 2024