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03Sep

Illinois’ New Retainage Law

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...
By: Saul Ewing Arnstein & Lehr LLP
Source Url: https://www.jdsupra.com/legalnews/illinois-new-retainage-law-60751/

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