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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