Marine Liens Opens Database to Maritime World for Free

Released on = January 27, 2005, 9:37 am

Press Release Author = Greg Hoffman

Industry = Transportation & Logistics

Press Release Summary = Marine contractors now have the opportunity to use a valuable tool for free until June 2005 to help collect receivables by posting lien claims through Marine Liens Ltd online service. The company announced the free use
of its lien search and posting site, www.marineliens.com, at the National Marine
Service Expo 2005 in Orlando, Fla. on Friday January 21, sponsored by the Association of Marine Technicians (AMTECH).

Press Release Body = Orlando, FL January 26, 2005 -- Marine contractors now have the opportunity to use a valuable tool for free until June 2005 to help collect receivables by posting lien claims through Marine Liens Ltd online service. The company announced the free use of its lien search and posting site, www.marineliens.com, at the National Marine Service Expo 2005 in Orlando, Fla. on
Friday January 21, sponsored by the Association of Marine Technicians (AMTECH).

Demand for the service has been growing since the site was launched in 2001 but industry contractors have been slow to adopt web-based lien programs, according to David Hayward, President of Marine Liens. “We made the decision to open up the
service for free to allow the industry to catch up on the technology and get comfortable with the lien posting and searching process,” Hayward said.

Maritime liens attach to the vessel and can become the liability of a new owner and lender, which make the site a valuable tool for buyers and lenders. It can also be a valuable tool for contractors to search for liens before working on a vessel. If the vessel has existing liens there may be no equity value left for the contractor to cover his outstanding invoice. Liens can be posted against any vessel world wide –
ranging from a small personal watercraft to ocean going commercial craft, according to Hayward.

“AMTECH members have been using MarineLiens.com for the last year and have found it
to be a great tool,” said Joe De Marco, President of AMTECH. “I’m happy to hear that everyone in the industry will be able to test out the service for free.”

It’s also an untapped tool for lenders, Hayward added. “They can use this free opportunity to post their notice of collateral security on all boats worldwide, including those under floor plan.”

MarineLiens.com was launched to provide the convenience of a central posting and searching facility for the worldwide boating audience. Translations of the text into eight languages covering the most active areas of the world’s seafaring population assure true international access. MarineLiens.com contributors collectively offer more than 100 years of experience in the maritime industry. Our corporate offices are located in the neutral environment of the Islands of Bermuda. For more information, visit: http://www.marineliens.com.

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Web Site = http://www.marineliens.com

Contact Details = David Hayward
MarineLiens Ltd.
10 Mt. Vernon St.
Suite 253
Winchester, MA 01890
781-721-4500 (Bus)