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Contractor cashflow threats by the numbers

of construction businesses typically wait 60 days or longer after invoicing to get paid
1 %
of construction businesses say they “always” get paid in full
1 %
of construction companies spend "substantial" time chasing down invoices
1 %

According to this article

You work hard to deliver exceptional projects with precision and expertise.

But, you constantly face the same challenges: delayed payments, incomplete payments, and the constant hassle of chasing down invoices.

What if there was a way to protect yourself from these financial uncertainties? What if there was a solution that ensured you receive timely and complete payments while reducing your administrative burden? That’s where CashGuard comes in.

CashGuard acts as a trusted intermediary between you and your clients. It provides a secure platform where your clients can deposit the funds for a project, and those funds are held in escrow until the project’s completion.

This means that you no longer have to worry about delayed or incomplete payments.

Think of it as a win-win situation. Your clients feel secure knowing that their funds are protected until the project is completed to their satisfaction, and you have the confidence that you’ll receive your rightful payment without the stress and hassle of chasing after it.

Take the risk out of your cash flow

CashGuard makes it easy to pay for home renovations and other project work without the risk. It is an online payment platform that is backed by National Bank of Canada and protected by an escrow system.

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Simple Fee Structure

Each project is charged a one-time fee of $25 + 1.5% of project cost.

Only pay when project is funded

We receive the project fee only after both parties have agreed to escrow terms and funds have been securely deposited.

legal protection for less

CashGuard gives you a legal escrow agreement without the traditional lawyer fees.

FAQ

Most frequent questions and answers

CashGuard makes it easy to pay and get paid for home renovations and other project work without the risk. It is an online payment platform that is backed by National Bank of Canada and protected by an escrow system.

All project funds are secured in a National Bank of Canada account until both parties agree to release the funds as project payment.

An escrow service can provide several benefits for the contractor involved in the project. Here are some advantages that contractors can derive from using an escrow service:

  1. Payment Security: Contractors can benefit from the assurance of payment security when using CashGuard. By having the funds held in escrow, the contractor knows that payment will be made once the agreed-upon conditions or milestones are met. This reduces the risk of non-payment or delayed payments, providing financial stability to the contractor.

  2. Trust and Credibility: Utilizing CashGuard can enhance the contractor’s credibility and reputation in the eyes of homeowners. It demonstrates a commitment to fair and transparent payment practices, which can attract more clients and lead to positive referrals.

  3. Dispute Resolution Assistance: In the event of conflicts or disagreements between the homeowner and contractor, having funding held in a secure escrow account can help facilitate communication. This can save contractors time, energy, and potential legal expenses.

  4. Streamlined Payment Process: CashGuard offer a streamlined payment process for contractors. Once the project milestones or conditions are met, the funds are released from escrow, ensuring prompt and efficient payment. Contractors can have better cash flow management, allowing them to focus on their work rather than chasing payments.

  5. Reduced Collection Efforts: Contractors using CashGuard can minimize the need for extensive collection efforts. Since the funds are held securely, there is less risk of late or non-payment. This eliminates the need for contractors to spend time and resources on pursuing payments or engaging in lengthy payment disputes.

Each project is charged a one-time fee of $25 + 1.5% of project cost.

The party that elects to use CashGuard and creates the project pays the fees.

Fees are calculated and clearly shown in app during project creation.

You will never be charged any extra or hidden fees that you didn’t agreed to during project creation.

We use Plaid to securely link your bank account so funds can be conveniently and safely withdrawn and deposited via EFT transfers. We support all Canadian banking institutions.

All money transfers and held project funds are covered by an escrow agreement that protects both parties.

Client Testimonials

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“A testimonial from a client who benefited from your product or service. Testimonials can be a highly effective way of establishing credibility and increasing your company's reputation.”
Client Name
“A testimonial from a client who benefited from your product or service. Testimonials can be a highly effective way of establishing credibility and increasing your company's reputation.”
Client Name