What is a Payment Claim or Progress Claim?

A progress claim is a request for payment for work completed to date on a project.

Progress claims outline the value of work performed against various line items and are typically submitted monthly or at completion of contractual milestones. Project Managers are often the contract administrator / superintendent who will receive progress claims from the appointed consultants and construction contractors, performing detailed assessments of work completed before issuing a Payment Certificate. This process is often aided by cost managers and quantity surveyors, and governed by the Security of Payments Act.

Challenges with Payment Claims & Certification

Common challenges we see managing payments.

❌ Time Consuming: Setting up, maintaining & troubleshooting spreadsheets, entering progress claim data, producing payment certificates, schedules and other documents take a very long time.

❌ Previous Payments & Variations: Reconciling the contract, variations and previously paid amounts requires constant maintenance and is error prone.

❌ Complex Cost Tracking: Linking payment information from progress claims back to contracts, variations and budgets creates wild formulas that are error-prone and cumbersome to maintain.

❌ Incorporating Actuals: Manually integrating or updating actuals from an ERP system or other reports from finance/accounting departments is extremely difficult and boring.

❌ Reporting: Formatting / transposing spreadsheet tables into charts and visualizations for reporting takes a huge amount of time for an unsatisfactory, out of date result.

❌ Compliance: Ensuring accurate financial reporting and compliance with regulations such as the Security of Payments Act is complex and never certain.

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Mastt Payment Solutions

💡 Simple Payment Creation: Easily create and submit progress claims, payment certificates, with Mastt’s easy to use system.

💡 Contract Suite Templates: Select from standard form contract suites to create and configure contracts, letters and retentions quickly, saving time + ensuring compliance.

💡 Automated Certificates: One-click to produce progress claim & payment certificates, tailored to your contract suite.

💡 Real-Time Tracking: Monitor the status of payments in real-time, providing transparency and accountability.

💡 Easy Drill Down: Access payment data quickly for detailed interrogation and faster decision-making, enabling deeper insights.

💡 Integrated Budget Tracking: Link progress claims directly to project budgets and milestones for accurate financial tracking.

💡 Comprehensive Registers: Maintain organized records of all progress claims, including supporting documents and approval history in automated registers.

💡 Compliance : Keep track of payment compliance requirements, such as legislative mandates, insurances, and retentions.

💡 Auditing: Maintain a log of changes for compliance and record-keeping.

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