Get paid on time, every stage
Deposits, progress claims and retentions, secured before the work starts.
Australian average
Ridgeway Building, with CheckVault
Three steps, every job
Set up the job
A payment, milestones, claims or drawdowns.
Setting up a jobClient pays in before each stage
Held by Perpetual until you’re done.
Client paymentsClient approves, you’re paid
By SMS. Settled in 1 to 3 days.
Approvals
On the tools, not chasing money
The money for each stage is secured before it starts, so your day goes on the build, not on the phone.
Six ways builders use it
Take one payment and release it once the job is finished.
- Whole jobSecuredReleased when the job is finished
Two payments: one released on delivery of materials, one once the install is complete.
- MaterialsSecuredReleased on delivery
- InstallSecuredReleased when the install is complete
A cost for each milestone. The client pays before each starts and releases it when it’s done.
- Milestone 1SecuredReleased when it’s done
- Milestone 2PendingPaid in before it starts
- Milestone 3PendingPaid in before it starts
An estimate secured before each month’s work. Less than that, the difference is returned; more, a top-up.
- This month’s estimateSecuredReleased against the claim
- DifferencePendingReturned, or topped up
A sum held through the job, released to you if the client can’t pay an invoice.
- Security depositSecuredHeld for the whole job, released if an invoice isn’t paid
No limit on how long money stays in CheckVault, so retentions and warranty deposits can wait for years.
- Retention or warranty depositSecuredHeld for as long as you need
No monthly or setup fee
Up to $25,000
1% of what you secure
Minimum fee $50.
Over $25,000
0.89% of what you secure
No refund fees either.
See pricingWhen jobs don’t go to plan
What if the amount to release doesn’t match?
Release any amount from zero to the full payment. The difference can be refunded or kept in CheckVault for later.
What if the client needs a refund?
If money needs to go back to your client, we settle with them as fast as we do with you. There’s no refund fee.
How do I know when something happens?
You’re notified the moment payments are approved or declined, requests are read and messages are sent.
What about disputes?
CheckVault sidesteps the most common reasons for them, and has a fair process if it comes to that.
Builders, and their clients
“CheckVault takes that concern away and gives you the motivation to finish the job promptly and to a high standard.”
“Using CheckVault we got a discounted price, because [the builder] knows his payments are secured.”
“CheckVault has been a terrific experience… the whole thing has been quite easy.”
Secure your next job’s first stage
No monthly fee. Set up the job and send it to your client.
See pricingAlready trading with us? Log in, or call 1800 CVAULT.