A lien waiver is a formal, legally binding document stating that the you have received payment for the agreed upon service or materials and therefore waive any rights to file a mechanic’s lien on the property. In short, a lien waiver serves as a receipt for payment. Many Invoices will be accompanied by a lien waiver. If an Invoice requires a Lien Waiver signature then it will have a status of "Pending Cond. LW" or "Paid - Pending Unconditional Lien Waiver". See this article for more on Invoice Status.
The HomeboundTrade Portal now helps mange the Lien Waiver process. Below I have outlined some basics of the Lien Waiver process at Homebound.
Who signs the Lien Waiver?
The person designated as the "Lien Waiver Signatory" for each market under your Trade's account contacts will sing the Lien Waivers. Here is a bit more on updating your company's contacts in our Trade Portal
Managing your Account Contacts
Signing your Lien Waivers
Signing your Lien Waivers will now work much like signing a PO does. You will receive an email from doc@contracts.homebound.com requesting that you sign. Simply click the green button that reads "Open the Document" and follow the steps to sign...
If you cannot find the email and it is your role to approve the Lien Waiver then you can simply click the blue button to sign from the Invoice in the HomeboundTrade portal. See below:
Finding Lien Waivers in the Portal
To find any Lien Waivers in the portal that need to be signed. Simply navigate to the Invoices tab and then use the filters at the top right to filter by "Paid - Pending Uncond. LW" or "Pending Cond. LW"
Questions? Feedback? Email us at Product-Support@Homebound.com