ADVANCE PAYMENTS FOR LABOR
Each advance payment will have a standard fee rate based on the percentage of the collectable value that is requested for advance. Each transaction will have a flat processing fee based on subscribers vs non-subscribers.
ADVANCE PAYMENTS FOR VENDORS
Premier ensures the timely payment of balances owed to vendors or additional subcontractors. If the owner or general contractor payment is received prior to the vendor payment being made, the only fee assessed is the flat processing fee for subscribers or non-subscribers. If the vendor payment is submitted prior to the owner or general contractor payment being received, the vendor payment will be classified as an advance and will incur the rates in the table above.
*All advance labor and vendor payments not collected from the owner or general contractor within 45 days from the date advanced will incur a daily late fee of .0526% of the dollar amount advanced, beginning on day 46 until collection.