Payments for construction projects using “Resi’s Payment Protect service, powered by Trustap” are paid in before the project commences and released in tranches according to the agreement between homeowner and contractor.

Our partnership with Trustap ensures funds are not released to the contractor until the agreed milestones have been completed. If you have reason to withhold the funds at any point, Trustap will pause the release of the funds and begin an investigation. Trustap’s buyer protection only applies to the funds they are holding. Any portion of the funds that has been paid out will no longer be covered.

A typical transaction is structured as follows:

Project payment

• Homeowners must deposit the project funds into the Trustap Hold at least 2 days before project commencement, ideally 7 days in advance to allow for security checks.

Initial payout

• This initial payout covers a portion of the project cost, including initial materials. This is typically paid out to the contractor ahead of any work being undertaken.
• Funds are released to the contractor 24 hours after the project agreement is uploaded.

Remainder of project

• The remaining project funds are held securely in the Trustap Hold.
• Payments are released incrementally based on the completion of pre-agreed project milestones as verified by the homeowner.

During the Resi Tender Review, homeowners may be advised to adjust their milestone structure to align with Trustap’s protection guidelines.

• The ability to terminate a project midway is determined by the contractual agreement between the contractor and homeowner.
• Trustap will only act in accordance with agreed terms and will not refund payments unless:
  • Both parties mutually agree to a refund.
  • The contractor is found responsible for an unrectifiable issue as determined by Trustap.

4.1 Dispute Initiation

• If a homeowner disputes the quality of work, they may initiate a dispute through Trustap before funds are released from escrow.
• Evidence must be provided (e.g., photos and a written statement).
• Trustap will attempt to mediate and make a decision, with the option to escalate to an independent assessment if necessary.

4.2 Independent Assessment

• An independent Quantity Surveyor (Independent Assessor) may be appointed to evaluate the work.

4.3 Assessment Outcome

• If work is deemed satisfactory, funds are released to the contractor.
• If work is substandard, the contractor must rectify defects within a specified timeframe.

4.4 Failure to Rectify

• If the contractor fails to address defects, homeowners may engage an alternative contractor to complete the work.
• Disputed funds will cover rectification costs, and the original contractor forfeits their claim to these funds.

4.5 Final and Binding Decision

• If an Independent Assessor is used, their decision is final.
• If no assessor is involved, Trustap’s decision is final.

4.6 Adjudication Costs

• Trustap will cover the full cost of one independent assessment per project as part of the Payment Protect fee.
• If more than one assessment is required, the homeowner will be responsible for the cost of any additional assessments.

• If additional funds are required, the homeowner must approve the increased cost.
• Trustap will invoice the homeowner for the additional payment.
• The funds are applied to the project accordingly.

Resi acts solely as an introducer of the Payment Protect service, which is independently operated and provided by Trustap. Although the service is branded as “Resi Payment Protect, powered by Trustap,” all payment handling, fund security, and dispute resolution processes are managed entirely by Trustap under their own terms and conditions.

Resi does not hold, receive, manage, or release any funds and is not a party to the agreement between you and your contractor.

Accordingly, Resi accepts no liability for:

• the quality, delivery, or outcome of the construction works,
• any failure by either party to meet contractual obligations,
• any delays or errors in payments or milestone confirmations,
• any decisions or actions taken by Trustap in relation to escrowed funds or disputes

By using the Payment Protect service, you acknowledge that Resi’s role is limited to referring you to the service and that all operational responsibility lies with Trustap.