HomePay functions as a financial management platform and intermediary for the facilitation of escrow transactions between the involved parties. It is important to note that HomePay does not manage any contents or conditions in the contract directly.

For progressive payment tranches, these percentages are to be discussed and set between homeowner & ID via the app. Thereafter, homeowners needs to Make Payment on the app when the relevant works are starting, according to your renovation timeline. We would suggest for the ID to prepare a project timeline document and within it state each payment tranche milestone, for your homeowner's easy reference. As for the releasing of balance 50% funds for each payment tranche, there is no default time interval between each payment. As long as homeowners approve the works done by the ID firm via the app, HomePay will release the balance 50% in escrow, to the ID.

The allocation of payment tranches is determined by the interior designers with whom you have a contractual agreement, as specified in the app within your project details.