Overview:
Struxtion’s XPay+ program allows you to receive payments within 10 days of your invoice being approved by your GC rather than waiting for the owner’s payment to the GC. The payment process is the same as it would normally be within Struxtion’s platform, however the payment is made to you in advance.
How It Works:
- GC Approves you and the project for XPay+ ✅
- You enroll in the XPay+ Program for the duration of the project (you can pause at any time)
- Within 10 days after your invoice is approved by your GC, Struxtion will make a payment to your linked bank account for 100% of the approved payment amount
- After the payment hits your bank account, Struxtion will withdraw the early advance fee from your account (same bank account as the one your payment went to)
FAQ’s:
Is it debt?
The advance is an early payment and not debt.
How much is advanced?
100% of the approved invoice amount.
What is the fee and where can I find it?
The fee can vary and will be stated in your enrollment agreement.
What are the requirement to enroll?
-GC must approve the project for XPAY+
-GC must approve the subcontractor for XPAY+
-Subcontractor must be signed up to receive payments from their GC electronically.
How do I un-enroll?
For convenience, once the Subcontractor has executed the Enrollment Agreement they are enrolled for the duration of the project. However, they can manually PAUSE within the Struxtion portal at any time which places their early payments on hold, and they will then receive payments within their GC’s normal payment schedule. They can also RESUME when they are ready to begin receiving payments early.
If I Pause enrollment is there any charge?
If enrollment is PAUSED by the Subcontractor, they will not be paid early on future invoices and therefore will not be charged the early advance fees so long as the change to PAUSED status happens at least 10 days prior to the invoice being paid early. Any current invoices that were being processed as XPAY+ will continue to be processed and be subject to early pay fees and the PAUSE status will apply to the next payment.