Lien waiver compliance overview
A lien waiver is a document between two parties that states payment is made for work performed or material supplied. When a vendor signs a lien waiver, the supplier waives their rights to file a claim or place a lien on the customer or the location where work was performed. A signed lien waiver acknowledges that the supplier is paid.
Sage Intacct generates lien waiver compliance records automatically. You can print or email lien waivers for suppliers to sign. After you receive a signed lien waiver, you mark the compliance record as received. However, if you do not receive a signed lien waiver, you can withhold future payments from the supplier.
Set up lien waivers
Sage Intacct generates lien waivers associated with an AP (Accounts Payable) AP purchase invoice or an AP payment for a commitment (a Purchasing order). The commitment must be based on a Purchasing transaction definition that is the primary document. To set up lien waiver compliance records, do the following:
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Enable the primary document workflows feature for Purchasing transaction definitions.
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Set up a compliance definition with Lien waivers as the Compliance category.
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Create a compliance type that includes the compliance definition and compliance templates.
Manage lien waivers
From the Compliance Records page, you can do the following:
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Track lien waiver details.
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Print or email lien waivers.
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Mark a lien waiver as received.
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Attach documents.
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Mark a lien waiver as the final one for commitment.
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Delete lien waiver compliance records.