As homeowners and business owners in Chicago know firsthand, the harsh winter conditions can damage your property and require costly repairs and renovations. When embarking on a construction project, it is important to understand your rights and responsibilities as the owner of the property, as well as the rights and responsibilities of the contracts and subcontractors who will be working on the project.
One Major issue that can arise in the context of construction projects is payment or the lack thereof, between the owner, the contractor, and the subcontractors. To protect yourself and ensure that all parties are properly compensated, it is important to follow the requirements of the Illinois Mechanic’s Lien Act.
Under the Illinois Mechanic’s Lien Act, the owner of a construction project must demand a sworn written statement from the contractor listing all of the subcontractors who will be working on the project, as well as the amounts due or to become due to each subcontractor.
If the owner pays the contractor before receiving this sworn statement, and the contractor subsequently fails to pay the subcontractors, the owner may be required to pay the subcontractors even if the contractor has been paid in full. This is why it is so important for the owner to demand the subcontractor list at the outset of the project, and to ensure that all payments are made in accordance with the terms of the contracts.
Overall, it is essential for homeowners and business owners to understand their rights and responsibilities under the Illinois Mechanic’s Lien Act, and to make sure all payments are made in a timely and proper manner.
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