Negotiate Better Prices
By securing your contractors in advance, for release when work is complete, many suppliers will offer even better prices. With CheckVault you can take advantage of those prices, without losing control of the money. Only when both parties are satisfied are the funds released by Perpetual Corporate Trust Ltd (“Perpetual”). Securing your funds with a trusted financial institution helps protect you from contractor insolvency, while giving the supplier a strong incentive to complete as quickly as possible.
Sharper Prices – Better Margins
CheckVault is available exclusively through CheckTender. With CheckTender you’ll be able to watch prospective contractors compete in real-time to provide you the best possible prices. CheckTender can also show you the cost of project risk by allowing you to compare the prices of those contractors who want security with those who do not.
We provide developers with a fast, free and efficient platform to get your project moving. Find and negotiate with a wide network of general contractors, tradespeople, suppliers and subcontractors – all online and at zero cost. We also offer third party ratings and testimonials to help you decide which contractor is right for you.
See how it works
Why choose CheckVault
- Feel safe knowing you are secured
- Maintain control for sellers and buyers
- Easy management of transactions
- Take the risk out of pricing
- A revolution in payment security
Less Admin – Less Cost
Cut down on the admin and paperwork. Manage all aspects of your contracts online. You can even note, agree and have payments secured for all variations before work commences. Negotiate progress or part payments (“milestones”) prior to acceptance, and catalog all variations online.
You’re in control – negotiate exact milestone payment terms with your client, contractor or supplier all online. Milestones can be triggered by a date or a completion of a set of terms, allowing you total flexibility. You can use CheckVault for periodic payments, such as a monthly progress payment, or set the milestone for the completion of a defined event, like the ground floor concrete slab, or even as a deposit for materials with payment only scheduled to be released once the goods arrive on site.
Resolve Disputes Faster
With all of the contract documents, variations, payment terms and messages uploaded in one easily accessible place, you can quickly and cost-effectively find the records you need to to settle a disagreement should it occur. In the event of escalation, the money remains with Perpetual until the matter is resolved either through mutual agreement or legal action.
Win – Win
With CheckVault all parties will have peace of mind knowing that payments are secured at each step, with transparent contractual and payment terms. This enables supply to be undertaken as agreed and with increased efficiency. CheckTender with CheckVault puts you back in control.