In most Local Unions, contractors are required to withhold monies from their members to fund items such as: Local Pension, Health & Welfare, Vacation, Assessments, Annuity and anything else that might be part of the Local agreements with its contractors and members. Fusion's remittance capture provides a structured interface for contractors to log in and provide the hours for each member. Fusion does the rest. Based on preconfigured wage packages, the platform will calculate based on either wages or hours the dollar amounts owed for each fund. When a remittance request is completed, pay electronically using ACH. At only $2.75 / transaction, it's an efficient way for contractors to take care of paying the entire request at once.
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REMITTANCE CAPTURE FEATURES
Remittance Configuration
Remittance Profile
- Customized Contracts and Wage Packages
- Store historic collection amounts for each wage package within the platform
- Calculate remittance on the basis of: hours worked, hours paid, a percentage of gross earnings; flat amount, etc
- Staff personnel can override rates under unique circumstances
- All overrides are audited to protect data integrity and eliminate fraud
- Numerous ways to govern and/or control contractor input
- Force contractors to only use electronic payment (ACH at a low, fixed rate)
- Autoschedule ACH payments
- Autogenerate employment history based on hours
- Allow or prevent contractors from using personal credit on their account
Remittance Profile
- Each remittance request provides a comprehensive view for a contractor over the period for which they are reporting
- The remittance request provides a complete summary of the request and all of the underlying details
- Add special conditions to assess rates if specific financial authorizations are in place
- Added support for subsidies that can be added for labor management (equality funds)
- Accept multiple payments for a single request or allow one payment to pay for multiple requests