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Procore

What fee models does Procore offer to Payors using Procore Pay?

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Answer

Procore Pay offers two (2) fee models to payors using Procore Pay to pay subcontractor invoices: 

  • General Contractor Pays Fee Model: With this model, General Contractors pay a higher subscription Software as a Service (SaaS) fee to pay fees on behalf of Specialty Contractors. This means your company has decided that your Specialty Contractors will not have to pay any transaction fees for the payments they receive. 
  • Specialty Contractor Pays Fee Model: With this model, General Contractors pay a lower subscription SaaS fee, and Specialty Contractors are charged a platform access fee to enable Procore Pay. This fee is a percentage of each transaction as payouts are issued. 

Additionally, payors can configure how to collect fees: 

  • General Contractors can choose to pay the transaction fees on behalf of their Specialty Contractors. 
  • General Contractors can apply the default setting for Procore Pay, where fees are collected from the Specialty Contractors. 

Fee collection is managed in active Procore Pay Agreements. For details, see What is a 'Procore Pay Agreement'? and Manage Procore Pay Agreements as a Payor.