Set it and forget it. Its this much simple. If you have got a website of blog, you might get many offers for link exchange. While relevant link exchanging is a good practice for SEO of a website but you might not have a proper setup or time to validate your link exchange partner that he still links to you or not. In this case you will have to go your self and check his website that your link is still there or not. What if you have many link exchange partners and you can not check them regularly. Here is a tool which will enable you to be informed automatically about your link status at other link exchange partner websites. You will get an email notification whenever your link will be removed from their websites. Reciprocal Link Checker (inbound links checker) is totally free service which checks partners once in a week and informs you.
Reciprocal Link Checker (Frelic) is a free webmaster tool that controls the status of your link exchanges. Robot periodically checks if your link partners still keep your link in their website. So if one of your (webmaster) partner removes your (reciprocal or purchased) link you will be quickly informed. You just have to add the URLs containing inbound links to your web site and robot will check their status (active or not found). If a webmaster has deleted your backlink you will have the chance to be informed by email or by visiting your account.