The Financial Toolset for General Contractors

FAQs

How much does Brick cost to use?

Brick charges contractors for using its payments services and uses a percentage of the job to base its fee structure as further outlined below. Most contractors choose to pass the costs of the Brick Pay service on to their clients either (i) included within the overhead & profit line for lump sum contracts or (ii) as an administrative fee or ‘payment services’ fee for line item contracts.

What am I legally agreeing to?

As part of your onboarding to Brick we will review your existing set of contract documents. In many cases we can have a short addendum that would get signed with the client upon agreement on the scope and price for the job. Alternatively, we have developed an in-house base contract that is easy to digest for the client which can be used and is structured around using Brick Pay. Your clients will have to sign an agreement with Brick that outlines their personal payment or installment plan relative to the work and the services that Brick performs on their behalf, including assistance in the event of a dispute around completed work.

Is Brick a lender? Are the advances a loan that I have to pay back?

Brick is not a lender. We are services provider that helps administer improvement contracts and payments between owners and contractors. And advances that you request against jobs are non- recourse to you and your business, subject to customary exclusions such as fraud or negligence. When you work with Brick, you are assigning us the rights and obligations of collecting payments from your clients in exchange for our guarantee of payment for completed work less our service fee.

What happens with mechanic’s lien rights when using Brick?

As part of our contract with you, you agree to work with us in the assignment and perfecting of any mechanic’s lien rights that may be available to protect payment for the improvement work. Upon completion of the project and payment from the client we will supply a lien release. Due to the nature of Brick’s guarantee of payment to contractors, you should never have to file a lien directly against a homeowner or client, but we may ask your assistance in helping Brick file if necessary.

How are change orders handled?

Brick is set up to handle both small and large change orders that naturally happen during the course of a job. After you have a signed change order with your client, we simply ask you to submit that document to us over email or uploaded into our application so that we can update the payment milestones that will be due to you as well as update our payment plans with clients. If you’d like to take an additional advance based on the change order amount, you can choose to do so within our system using the same methodology as when the base job was submitted to us, and the same fee schedule will apply to the advance against the change order.

What happens in the event of a dispute with the client around completed work?

One of the services that Brick provides is a mechanism that helps clients and contractors manage disputes. As part of your contract documents, each of you, the client and Brick shall agree that in the event of a dispute over the level of completion of work or the quality of workmanship for a component of the job, each party will first work in good faith to resolve the dispute without third parties. For example, if there is a dispute around a punch list item, we first ask that the contractor and client come to an agreeable solution that can be memorialized and executed as a change order. If the dispute cannot be resolved, Brick will hire a third party inspector to come in and review the work and the nature of the dispute. The third party inspector will then be tasked with defining an equitable resolution based on the review of the work, and his or her decision shall be deemed final and apply to the parties. The cost to have the third party inspector come on-site (usually a few hundred dollars) shall be borne equally by contractor and client.

Is there a maximum amount that I can have funded from Brick at any one time?

As part of your onboarding with Brick, we will designate a maximum amount that can be advanced to your business at any one point in time (the “funding cap”). The lowest funding cap is set to $50,000 and increases based on the particular risk profile of your business. As you work with Brick longer, we will work to increase your funding cap so that you’re able to grow your business with us over the long-term.

The fastest payments in home renovations.

Focus on building, not managing cashflow.

Get up to 65% of the job upfront.

Don't let change orders or backordered materials delay payments.

Never worry about collecting final payments

Pay subcontractors with a click of a button.

Custom rates starting at 3% per project

FAQs

Start growing your business with Brick today.