Spotlight on technology in the construction industry
BuildSpider – Smarter Construction Software
New Zealand Company, BuildSpider, is providing innovative new software solution to the construction industry that looks to revolutionise the financial management of construction projects.
BuildSpider is a cloud-based administration platform specifically designed for the construction industry. Under one consolidated platform, BuildSpider provides a number of excellent features to its users, including:
- Construction Contracts Act 2002 (CCA)-compliant formats and processes for payment claims, payment schedules, and variations
- visibility over all project communications, including RFIs and variations
- automatic calculation of all retention amounts in respect of all contractors and subcontractors to ensuring reporting obligations for retentions under the CCA are met
- tracking and timetabling due dates for payment claims and schedules
- “live” visibility over the progress of the project
- collaborating and linking platforms with other users of BuildSpider involved in the project to create a project ecosystem
- collaborating with team members to create easy access to vital project information
- a document hub containing all relevant documents, including contracts, subcontracts and variations
Benefits – a construction law perspective
BuildSpider offers obvious benefits to all users that will lead to a more cost efficient, organised and micromanaged project. From a construction law perspective, we have identified three noteworthy aspects of BuildSpider’s product relating to:
- The CCA’s payment claim and payment schedule regime
- The CCA’s retentions regime
- Adjudications under the CCA
Payment claims and schedules
A product like BuildSpider provides users visibility over what is happening in a project at any given time which decreases the risk of missing the due date of a payment claim or payment schedule. In the context of the strict CCA payment claim / schedule regime (See our articles here and here), this is particularly important. A payment claim that is “unquestioned” within the prescribed timeframes is payable, with any dispute over its merits being reserved for a later date.
We have raised issues with the recently repackaged retention regime under the CCA in earlier publications here. One of the issues we have identified is the lack of practical guidance from regulations over record keeping requirements. A product like BuildSpider provides a system to track retention amounts and transactions that is updated as changes happen, leaving little room for any complaints as to non-compliance.
We have also drawn attention to the adjudication regime and have predicted its importance in the years to come (see our article here). Adjudications are a dispute resolution forum with very quick turnarounds and are decided on the paper evidence, as opposed to appearances by lawyers or witnesses in court – or a court-like setting. By providing a single platform for all records relating to a project, a user of a product like BuildSpider which becomes involved in an adjudication is going to have evidence required to support its case readily at hand.
Overall, our view is that any product that centralises paperwork and streamlines processes will have a positive impact on the construction industry. For more information about BuildSpider, including pricing, visit the website at www.buildspider.co.nz