Construction Suppliers

Protect your material supplies

1 – Request the supplier submits the purchase order via Pay-Trade for mutual protection and full transparency.

2 – All parties agree to the contract and the client pays the full project amount, or initial agreed stage amount (for large projects where perhaps the total amount isn’t available) into the Project Wallet. Once the money clears with the Project Wallet, the project is marked as Work In Progress.

3 – The supply is carried out and a payment release is requested by the professional entity. The client can then review the supply items and permit the release of money from the account, or where not happy, raise a dispute for resolution.

Suppliers acting in the construction industry offer a variety of payments terms. Some demand payment in advance of delivery. Some provide a credit account. Others require part payment in advance and the remainder on or before delivery. Each carries a different level of risk to a client, but also a different level of risk to the supplier.

Instead of taking an upfront deposit or part payment, or offering credit, Pay-Trade offers an alternative solution whereby a Project Wallet is paid into to secure the material supply providing 100% proof of affordability and intent to pay, which is released upon delivery or installation.

This ensures the supplier is fully protected and has proof of intent to pay and affordability, and ensures the client does not release money from the Project Wallet until the agreed service/supply is completed. This ensures neither party has an unfair bias over the other, and creates an unparalleled level of trust and security to the process.

Where deposits are necessary for cash flow purposes (Glazing suppliers do this a lot given the value), we at Pay-Trade would urge caution, but remind everyone that construction is an expensive product to deliver, and many smaller but very professional practices simply don’t have the funds or credit accounts to work entirely in arrears. Where deposits are necessary, we would suggest a credit card payment is used to provide buyers with section 75 protection. This is likely to incur a payment charge but is likely worth it for the peace of mind it provides. All other payments are then made via The Pay-Trade Project Wallet.