Illinois Prompt Payment Act Update

• Overview

Prompt payment for construction services is a continuing concern for prime contractors, subcontractors and suppliers. Illinois has local government and private prompt payment act laws that afford contractors rights to receive prompt payment and also provide penalties for failure to make prompt payment. This course is designed for professionals who want a more thorough understanding and examination of Illinois statutes.

Learning Objectives

• You will be able to define penalties for failure to make prompt payment.
• You will be able to discuss new developments in local government Prompt Payment Act.
• You will be able to review new developments in Private Prompt Payment Act.
• You will be able to recognized the interplay with AIA deadlines.

Authors

Agenda

Local Government Prompt Payment Act

• Overview

• New Developments

Private Prompt Payment Act

• Overview

• New Developments

• Interplay With AIA Deadlines for Payment and Mechanics Lien Law