Liens are never a problem, until they are. Having a lien placed on a project not only complicates and causes delays, but it can halt your project entirely. Lien waivers – written legal agreements between a Payor and a Payee, provide receipt for payment and protects projects, as well as the Payor themselves. Because it is a legally binding agreement, the right the Payee has to place a lien disappears. Protect your project with digital lien waivers and rest easy.
If a mechanic’s lien is attached to a property, that property cannot be sold until the debt is settled. This makes it crucial for all lien waivers to be signed and accounted for throughout the lifecycle of your project.
Sekady’s robust platform offers a way to protect your lien position with two unique solutions. First, Trades and Vendors can be paid directly through the platform, allowing you to keep track of invoices on a project level and ensure the project stays on budget. Additionally, when invoices are approved within the platform, the Payee has to sign a digital lien release before payment can be released. Schedule a quick demo here.
Not only does Sekady’s platform offer these solutions, but any signed lien waivers within the project are stored on the platform for later reference. Why worry about keeping track of physical papers when everything can be accessed digitally with a few clicks?
For more information on how to protect your project with lien waivers, see The National Association of Home Builders (NAHB).