Eric Berg

Eric Berg

Ogletree, Deakins, Nash, Smoak & Stewart, P.C.

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Construction One-Minute Read: Illinois Restricts Retainage on Private Construction Projects

Every private construction project in Illinois will be affected by a new law, effective immediately. The Contractor Prompt Payment Act (815 ILCS 603/1, et seq.) was amended to restrict the use of retainage on construction...more

8/24/2019  /  Construction Contracts , Construction Industry , Construction Project , Contract Terms , Exemptions , General Contractors , New Legislation , Prompt Payment , Retention Funds , Subcontractors
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