zlien is proud to announce the launch of its newest product: the Waiver Exchange. This feature is free and available to anyone. Use the Waiver Exchange to determine the right type of lien waiver for you and your project, to generate a waiver that complies with your state’s statute, and to sign and send it electronically or download it to print.
Lien waivers are a key part of the construction payment process. Everyone in the construction industry uses lien waivers – property owners, lenders, contractors, material suppliers, equipment lessors, and more. Signing a lien waiver relinquishes the signor’s right to file a lien for the amount specified in the waiver. A signed lien waiver benefits the party making payment by protecting them from paying twice, and benefits the party receiving payment by helping them get paid faster.
Sending lien waivers electronically saves time (no waiting for snail mail), decreases stress (it’s so easy!), reduces costs (no need to pay for postage), promotes peace of mind (feel confident that you are making the payment process speedy and safe), and facilitates organization (you can easily track your waiver’s progress online). Click the link below to create and send your first waiver in minutes!
Who Is the Waiver Exchange for?
This tool can be used by parties making payment as well as by those awaiting payment. Property owners, lenders, general contractors, and other parties who wish to receive a signed lien waiver before making payment can build a waiver and electronically send it to the hired party with a request for signature. This makes it very easy for the hired party to sign and return the waiver in a timely manner. The person sending the waiver will be notified when the waiver is received and signed.
Parties who are awaiting payment such as subcontractors, material suppliers, equipment lessors and more can create, sign, and send a lien waiver to their client. This often speeds up the payment process, because when the party making payment receives a signed lien waiver, they can make payment without fear of also being liened.
How Does the Waiver Exchange Work?
The process of creating a lien waiver with zlien‘s Waiver Exchange is simple, straightforward, and speedy.
Step 1: Enter the project information and select the waiver type (the system will help you determine which waiver type to use).
Step 2: Enter your company’s information.
Step 3: Provide information about the waiver (such as how much money is at stake and who is waiving their lien rights).
Next, you click “Get Form” and your waiver is generated!
Step 4: Click either “Request Signature” or “Sign Waiver” depending on whether you are making or receiving payment. (You have the option to download the document if you would rather exchange a hard copy than send an electronic version via email.)
Then, just sit back and wait for an email notification that your waiver has been received or signed! You can track your waiver’s progress with the waiver tracker page.