Mark Johnson | Seyfarth Shaw | September 2, 2019 The Illinois Contractor Prompt Payment Act, 815 ILCS 603/1, et seq. (the “Act”) was first enacted in 2007 and designed to safeguard contractors and subcontractors on private projects by providing a mechanism to expedite payments for work performed. The Act applies to all private construction projects in… Continue reading Illinois Expands Protections Under The Contractor Prompt Payment Act By Imposing New Restrictions On Retainage
Tag: Illinois
New Illinois Law Impacts Retainage For Contractors
Matthew Horn | SmithAmundsen | September 13, 2019 The Illinois legislature recently passed a law modifying the Contractor Prompt Payment Act, impacting retainage on all private projects (except residential projects involving twelve units or less). The law sets the ceiling for retainage at 10%, and requires that retainage be reduced to no more than 5% once the… Continue reading New Illinois Law Impacts Retainage For Contractors
Does a Mediation Trigger the Duty to Defend Under a CGL Insurance Policy?
Joshua Fruchter | Merge Mediation Group | September 4, 2019 Standardized commercial general liability (CGL) insurance policies impose a “duty to defend” that obligates insurers to defend insureds against “suits” seeking damages for claims potentially covered by the policy. The existence of a duty to defend is determined by the allegations in the “suit” filed… Continue reading Does a Mediation Trigger the Duty to Defend Under a CGL Insurance Policy?
Illinois’ New Retainage Law
James Rohlfing | Saul Ewing Arnstein & Lehr | September 3, 2019 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 reduced to 5 percent and kept at 5 percent for the remainder of… Continue reading Illinois’ New Retainage Law
The Seventh Circuit Court of Appeals Weighs In On “Matching”
Edward Eshoo | Property Insurance Coverage Law Blog | August 10, 2019 Last year in one of my blogposts, I wrote about Windridge of Naperville Condominium Association v. Philadelphia Indemnity Insurance Company,1 and the issue whether appraisal is appropriate to resolve a dispute over the cost of repairing physically undamaged siding of townhome buildings to remedy a mismatch… Continue reading The Seventh Circuit Court of Appeals Weighs In On “Matching”