Course description
Bonds and Payments of Illinois Mechanics Liens
Are you up-to-date with the Illinois bond and payment procedures and the new ”bonding off” statute? This topic is designed for project owners, contractors, architects, engineers, vendors and others in the construction industry. You will learn the rules applying to releases and waivers of mechanics liens. You also will study ways to secure payment for public projects, including the bond requirements. You also will be introduced to the new Illinois “bonding off” statute, court procedure and alternative dispute resolution. Although this topic is not aimed to attorneys, it will serve as an introduction to the subject matter for those attorneys who do not regularly practice in the area.
Learning Objectives
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Who should attend?
Training content
- Releases and Waivers of Mechanics Liens
- How Do You Release Your Lien Claim?
- What Are the Differences Among Lien Waivers?The New Illinois Bonding off Statute
- What Is the Purpose of This New Statute?
- How Do I Do It?
- Can a Bond off a Lien Before a Lawsuit?Public Projects; Enforcing Payment
- Can I Lien Public Property?
- What Bonds Are Necessary for Public Construction in Illinois?
- What Is the Miller Act?Foreclosing on the Lien
- How Do I Start a Lawsuit?
- What Is Discovery?
- How Does a Trial Work?Alternative Dispute Resolution
- What Is Mediation?
- What Is Arbitration?
- How Binding Is Arbitration?
Costs
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Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...