One of the greatest risks identified through our workshops with builders in 2024 was non-payment. IPromise offers a simple, cost effective way to ensure you get paid immediately on completion of agreed milestones. There’s no more chasing of unpaid invoices or bad debts, resulting in improved cashflow and client relationships.

It’s also a powerful marketing tool, as your clients can be assured that their money is safe until the work is done.

IPromise’s system has a free 90-day trial. All funds transacted through the escrow app are securely held in a BNZ trust account.

Benefits For Trade Businesses

  • A simple and safe way to control business payments and improve cash flow
  • No chasing unpaid invoices
  • No bad debts
  • No more credit checking
  • No more cash flow woes
  • Payment protection – safe and secure for you and your customers
  • Transparent subscription pricing. No commission
  • Easily manage deposits
  • Simple and fair disputes process
  • Peace of mind, because payments will only be released when the project is delivered to everyone’s satisfaction – your payment guarantee

How does it work?

IPromise securely collects and holds payments in advance and releases them immediately when the job is done.

  1. Contractor and customer agree
on a price
  2. Customer submits payment
to our BNZ trust
  3. Contractor delivers the promised service (in full or across multiple milestones)
  4. Customer approves service has been delivered
  5. IPromise releases payment to contractor

About IPromise

IPromise is a New Zealand-based software as a service (SaaS) tool that provides online business payment solutions. It provides an easy way for businesses and their customers to undertake jobs and provide services, with a payment guarantee once the job or service has been completed.

 

 

The top 20 risks identified in Builtin’s 2024 risk workshops with builders:

1

Accident on Site

2

Customer Not Paying/Cancelling Job

3

Natural Disaster/Weather

4

Theft of Tools

5

Staff Reliability/Availability

6

Property Damage (eg. Fire)

7

Defective Work by Staff

8

Financial Strain/Cashflow/No Pipeline of Work

9

Key Person Illness

10

Recession

11

Supply Chain Issues

12

Product Failure

13

Litigation/Contractual Disputes

14

Pandemic/Global Crisis

15

Subcontractor Insolvency or Defective Work

16

Pricing Errors

17

Regulation/Legislation/Council

18=

Relationship Breakdown/Family Issues

18=

Defective Design/Engineering

20

Cyber Security

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