Effective August 20, 2019, Illinois law provides that a maximum of 10 percent retainage may be withheld from payments under private construction contracts and, after the contract is one-half complete, retainage must be...more
Illinois is the most recent in a number of states to consider legislation that modifies the practice of withholding payments from contractors and subcontractors as retainage. ...more
Illinois is considering joining the growing ranks of states that restrict retainage withheld on private or public construction projects. Illinois Senate Bill 3052, invalidating contract clauses calling for retainage in...more