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13Sep

New Illinois Law Impacts Retainage For Contractors

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...
By: SmithAmundsen LLC
Source Url: https://www.jdsupra.com/legalnews/new-illinois-law-impacts-retainage-for-20192/

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