Administering contracts over data network
A method for administering performance of a contract over a data network includes storing a lien waiver and receiving an application for payment over the data network from a contract participant based on performance under the contract. The stored lien waiver is retrieved and sent to the participant via the data network upon approval of the application for payment. The at least one data tag may be included in the lien waiver prior to storing the lien waiver.
1. A system for administering performance of a project, the system comprising:
a web server configured to execute a project in a contract administration program, the project comprising a subcontractor schedule of values (SOV) corresponding to at least one subcontractor and a general contractor SOV corresponding to a general contractor;
a web client in communication with the web server via a first network, and configured to receive a subcontractor application for payment (AFP) from the at least one subcontractor via the web server for performance of at least a portion of the subcontractor SOV;
an accounting system configured to execute a job in internal accounting records of the general contractor corresponding to the project, the job comprising at least one commitment corresponding to the subcontractor SOV and a contract corresponding to the general contractor SOV; and
an integrator configured to interface the web client and the accounting system via a second network, enabling the accounting system to automatically update the job in the internal accounting records to reflect the subcontractor AFP,
wherein the accounting system receives the subcontractor AFP from the web client via the integrator and creates at least one accounts payable (A/P) invoice corresponding to the subcontractor AFP.
2. The system of claim 1 , wherein the web server is configured to receive the at least one A/P invoice from the accounting system via the integrator and the web client, and to create a general contractor AFP based at least in part on the at least one A/P invoice.
3. The system of claim 2 , wherein the accounting system further receives the general contractor AFP via the integrator and creates at least one accounts receivable (A/R) invoice corresponding to the general contractor AFP.
4. The system of claim 3 , wherein the accounting system reconciles actual job costs based on the subcontractor AFP and the general contractor AFP.
5. The system of claim 1 , wherein the first network comprises the interne and the second network comprises a local area network (LAN).
6. The system of claim 5 , further comprising:
an open database connectivity (ODBC) data source pointing to a database associated with the accounting system; and
an application programming interface (API) configured to interface between the integrator and the accounting system.
7. The system of claim 2 , the web client comprises a graphical user interface configured to display at least the at least one A/P invoice and the general contractor AFP based at least in part on the at least one A/P invoice.
8. The system of claim 1 , wherein the integrator comprises software or middleware executable by the web client.