| Project AAX Funding |
|---|
| The AAX project team had a meeting with the client to plan how the clients project could be funded and how the threat of a cash flow problem may be resolved so people working on the project get paid. |
| nr | minute | who | when |
| 101 | The duration of the project is estimated as 55 days with a start date at the begining of the month. | SM | 01 Nov 2016 |
| 102 | Where the first sales invoice is raised at the end of the calendar month and payment terms remain at 28 days, then personnel will not be paid for almost 8 weeks. | SM | 01 Nov 2018 |
| 103 | It is understood that few personnel can risk waiting for payment for what may be 8 weeks and personnel are looking for alternative work with a more reasonable payment duration and less risk. | SM | 01 Nov 2018 |
| 104 | A proposition is that the client can reduce the risk of their project being stalled by making weekly payments in advance equal to the contracted labour costs involved on their project. | SM | 01 Nov 2018 |
| 105 | The contractor can get 28 day payment terms from suppliers for contract hire equipment and procured supplies, but 28 day terms is less than a payment plan to invoice at the end of the month and wait for 28 days for payment. | SM | 01 Nov 2018 |
| 106 | A viable and sustainable project plan could be fragment the project into three or four smaller projects with payment on completion of each phase. | SM | 01 Nov 2016 |
| 107 | The most effective way to be able to get contracted labour to work on the clients project is where they have some certainty to be paid within four weeks. | SM | 01 Nov 2016 |
| 108 | The client and the personnel agreed that four phases with payment on completion of each phase will get the project completed and get labour paid with a viable and sustainable duration. | SM | 01 Nov 2016 |
| 109 | The client is comfortable that the risk of their project stalling and being left partly completed has been reduced and personnel are comfortable that the risk of not being paid has been reduced. | SM | 01 Nov 2016 |
| 110 | The client has been provided with all the labour rates and will be provided with online access to the daily time sheets that show the actual cost of labour - a weekly summary is also available that is used for weekly payments by the client. | SM | 01 Nov 2016 |
| 111 | Honest, Open and Transparent. | SM | 01 Nov 2016 |