Using Textura as a subcontractor on a project can be very confusing and difficult. Let us tell you a little about this tool that you have to pay for to work on some projects.
Supposedly Textura will reduce paperwork and decrease invoicing and payment processing time.
What textura does?
Automatic generation of your AIA G702/703 and Lien Release documents
Email notification as the draw progresses •
Immediate feedback if your invoice is questioned
Notification when you will be paid
• Direct electronic payments
• Direct downloading of all qualification documents
all Applications for Payment and all supporting documents (including but not limited to lien waivers, sworn statements, and the like) for Subcontractor and its sub-subcontractors and suppliers, shall be in electronic format and shall be submitted using the Textura-CPM™payment management system.
Subcontractor shall be responsible for the fees and costs owed associated with Subcontractor’s use of the Textura-CPM™ payment management system. Subcontractor shall include a similar provision in its sub- subcontracts and purchase orders. Fees to Subcontractors are calculated as 0.18% (18 basis points) of contract value, with a minimum fee of $50 and a maximum fee of $2,500. Fees to Subcontractors’ sub- subcontractors and suppliers are a fixed fee of $100 per sub subcontractor or supplier contract.
the Textura System utilizes electronic signatures for documents such as invoices and lien waivers generated in the system.