Construction payment management system and method with document tracking features

1. A construction payment management system for a construction project involving a plurality of participants associated with the construction project and a plurality of required documents to be provided by a first participant during a course of the construction project, the system comprising a processor and a memory storing instructions that, when executed by the processor, cause the system to:

define the plurality of required documents that must be provided by the first participant during the course of the construction project and stored to the memory of the construction payment management system;

automatically assign a first enforcement action to a first document of the plurality of required documents;

display a list of the plurality of required documents to a second participant on a screen;

display a list of a plurality of enforcement actions to the second participant;

receive, from the second participant, a selection of the first document from the list of the plurality of required documents;

receive, from the second participant, a selection of a second enforcement action from the list of the plurality of enforcement actions, wherein the list of the plurality of enforcement actions includes a withhold payment action;

assign the second enforcement action to the first document when the selection of the second enforcement action is received;

monitor a status of the first document;

automatically effect the first enforcement action when the first document is not provided by the first participant and when the selection of the second enforcement action has not been received; and

automatically effect the second enforcement action when the first document is not provided by the first participant and when the selection of the second enforcement action has been received;

wherein the first enforcement action and the second enforcement action are not automatically effected when the first document has been provided by the first participant.

2. The construction payment management system of claim 1 wherein the instructions, when executed by the processor, further cause the system to assign the status to the first document.

3. The construction payment management system of claim 2 wherein the status includes at least one of not complete, not signed, signed, not received, received, not applicable, active, and expired.

4. The construction payment management system of claim 2 wherein the instructions, when executed by the processor, further cause the system to assign the status based on a selection electronically received from at least one of the plurality of participants.

5. The construction payment management system of claim 2 wherein the instructions, when executed by the processor, further cause the system to automatically electronically notify at least one of the plurality of participants of the status of the first document.

6. The construction payment management system of claim 2 wherein the instructions, when executed by the processor, further cause the system to update the status of the first document and automatically electronically notify at least one of the plurality of participants of the updated status.

7. The construction payment management system of claim 1 wherein the instructions, when executed by the processor, further cause the system to automatically electronically notify the first participant of the first enforcement action assigned to the first document.

8. The construction payment management system of claim 1 wherein, when the second enforcement action is a notification action, the instructions, when executed by the processor, further cause the system to automatically effect the second enforcement action by automatically notifying at least one of the plurality of participants if the at least one document is not stored on the memory of the construction payment management system.

9. The construction payment management system of claim 1 wherein, when the second enforcement action is the withhold payment action, the instructions, when executed by the processor, further cause the system to automatically effect the second enforcement action by automatically withholding a payment to the first participant if the at least one document is not stored on the memory of the construction payment management system.

10. The construction payment management system of claim 9 wherein the instructions, when executed by the processor, further cause the system to automatically electronically notify at least one of the plurality of participants of the held payment.

11. The construction payment management system of claim 1 wherein the at least one document includes at least one of an agreement, a form, and a certificate.

12. The construction payment management system of claim 1 wherein the instructions, when executed by the processor, further cause the system to assign an expiration date to the at least one document.

13. The construction payment management system of claim 12 wherein the instructions, when executed by the processor, further cause the system to assign the expiration date based on a selection electronically received from at least one of the plurality of participants.

14. The construction payment management system of claim 12 wherein the instructions, when executed by the processor, further cause the system to automatically notify at least one of the plurality of participants of the expiration date approximately on the expiration date.

15. The construction payment management system of claim 12 wherein the instructions, when executed by the processor, further cause the system to assign at least one expiration notice date to the expiration date.

16. The construction payment management system of claim 15 wherein the instructions, when executed by the processor, further cause the system to automatically electronically notify at least one of the plurality of participants of the expiration date approximately on the at least one expiration notice date.

17. The construction payment management system of claim 1 wherein the instructions, when executed by the processor, further cause the system to electronically transfer the first document to the second participant after it has been stored on the memory of the construction payment management system.

18. The construction payment management system of claim 17 wherein the instructions, when executed by the processor, further cause the system to automatically electronically notify at least one of the plurality of participants when the first document electronically has been transferred to the second participant.