E469: Simplify The Lien Release Collection Process

Collecting lien releases can seem like more trouble than it’s worth.

 

  1. Line releases protect you and your clients
    1. Provide proof of payment
    2. Helps to avoid costly battles
    3. Gives you client peace of mind
  2. Create a process for collecting lien releases
    1. Collect releases on all project related invoices
      1. If it’s coded to cost of goods or a job, don’t enter into accounting without the release
    2. Collect them from suppliers and subcontractors
    3. Add the lien release collection to your current invoicing process
  3. Use systems to make the process easier
    1. Create a checklist for invoices that includes lien releases
    2. Create invoice templates that include lien release language and make vendors use them
    3. Use Waiver Exchange
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