Construction payment custody platform
A payment custody platform built for Australian residential construction
BuildFair holds project funds in regulated custody, releases them against the agreed rules, and pays subcontractors and suppliers from the project account. Builders stop bankrolling jobs out of pocket, and everyone can see where the money is.
What it does
One payment flow for the whole project
Most residential builds run payments through the builder's general operating account, bank transfers, and email. The owner pays in stages, the builder funds trades and materials from the same pool, and the people at the end of the chain wait when the timing breaks.
BuildFair changes the path. Owner funds land in a regulated project account with our banking partner Kobble. Subcontractors and suppliers are paid out of project funds on a fixed clock. Every release carries an audit trail.
Funds sit with Kobble (AFSL 545391) a separately licensed financial institution. BuildFair never holds your money, never has access to your money, and can never use or move your money for any reason. Funds can only be moved from the account once work on the project has been completed and verified.
A builder will create a project on the BuildFair platform
Once a builder has created the project, he can invite the homeowner to join, and he can invite subcontractors to quote the project. Once the subcontractor quotes have been decided on, he can then send a full quote to the owner, including a specifications sheet and building contract. Once the owner approves the quote, the project is activated and a Kobble bank account is opened and linked to the project.
Project funds deposited into the BuildFair account linked to your project
Instead of the owner or the bank depositing initial contributions and progress payments into the builder's operating account, the money is deposited into the BuildFair account linked to the project, which is held in the owners' name.
The builder and subcontractors complete work and suppliers deliver materials
Once work has been completed, verified, and invoiced for on the platform, both the builder and subcontractors on the project will be paid seven days from approval of their invoice. Suppliers will also invoice subcontractors and builders for materials, who will then also be paid in seven days from approval of the materials delivery. All invoices on the BuildFair platform must be accompanied by geo-taged photo evidence of works completed and materials delivered. A builder or subcontractor can not invoice for more than they quoted for. Because the invoices are paid from the project account, the builder never has to fund a project with their own money.
Builder overheads paid weekly
Builders will be paid a predetermiend overhead payment every week for the duration of the project. The amount is set when a builder send a quote to the owner, and cannot be changed after the quote has been accepted. The builder can also choose to forego this overhead payment if he doesn't need it that week, and this will be then be added to the builder's margin to be paid at project completion. This keeps cash flow predictable and consistent for the builder, leading to more efficient projects.
Receiving progress payments
Once a stage has been reached and certified, the builder can request and invoice for a progress payment through the BuildFair platform. BuildFair automatically compiles all photo evidence submitted for that stage and submits it to the owner with the invoice to make this process as smooth and as fast as possible. Progress payments will also be deposited into the project account linked to the project.
Completion and final payment
Once all works have been completed, the builder can mark that the project has been completed. Once this happens, the only has a chance to raise any defects with the builder. Once all defects have been resolved, and the certificate of occupancy has been received, the builder can complete the project and invoice for his final payment, the builder's margin. The owner will deposit the margin into the project account, and once this payment has been released the project is marked completed. BuildFair will retain all information on projects, including photos and files, for seven years.
The comparison
The current system vs BuildFair
| Event | The current system | BuildFair |
|---|---|---|
| Where project money sits | In the builder's general operating account, mixed with other jobs and overheads. | Outside the operating account, with our banking partner Kobble, released on the project rules. |
| Who funds the work in progress | The builder, out of personal savings, overdraft, or credit, until the next progress claim clears. A slipped claim becomes a personal cashflow problem. | The project account. Overheads, materials, subcontractors, and suppliers are all paid from project funds, so the builder never pays out of their own pocket. |
| How subcontractors get paid | When the builder has cash that week, often behind suppliers in the queue. | From the project account on a fixed clock once the invoice is approved. |
| Owner visibility | Limited. Owners have no independent, real-time view of where their money has gone. | A live view of what has been claimed, approved, and paid on the project. |
| Payment record | Spread across bank statements, emails, and text threads. | One double-entry, hash-chained ledger with an audit trail per release. |
| If the builder becomes insolvent | Owners and subcontractors line up as creditors over funds that were pooled into the general operating account. | Unreleased project funds sit with Kobble, not on the builder's balance sheet. |
Card payments
Pay every invoice by card. Earn the points.
As a builder you can pay all of your invoices through BuildFair by credit card, suppliers and subcontractors alike, and earn points on top of whatever your existing card already pays. Same spend, more reward, on money that already moves through every job.
Card payments are powered by ZenPay, with the processing fee passed through at cost and no markup from BuildFair. The points you earn are yours to keep.
FAQ
Common questions, answered.
Is BuildFair a trust account?
No. BuildFair is not marketed as a statutory trust account. It is a project payment and release platform, with funds held externally by our banking partner Kobble. It does not replace your statutory rights or obligations.
Are there per-transaction fees?
There is one flat subscription per role and no per-payout cap. The only pass-through cost is the standard card processing fee when you choose to pay by card, charged at cost via ZenPay. See the pricing page for current figures.
Who is BuildFair for?
Australian residential construction: builders, owners, subcontractors, and suppliers working on the same projects. Owners are invited to a project at no cost.
Is BuildFair safe?
Yes, every money movement is recorded as a debit or credit on our ledger, which means every cent of every project must be accounted for. BuildFair also utilises the best cybersecurity practises available to ensure your money is safe and secure.
What happens to my money if BuildFair goes out of business?
Because the funds are held by Kobble, in the event of a corporate failure from BuildFair, your money is safe and will not be at risk.
One plan per role. No per-payout cap.
Builders and subcontractors pay one flat subscription, owners are invited to a project for free, and there is no per-payout cap on the large progress payments that are normal in construction. The pricing page has the current figures.
BuildFair also helps owners protect deposits and subcontractors get paid on time.