Bonds and Payments of Illinois Mechanics Liens

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

Bonds and Payments of Illinois Mechanics Liens

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

  • You will be able to describe the steps you must take to foreclose on your lien claim.
  • You will be able to identify using the right language in lien waivers.
  • You will be able to discuss the steps you can take to assure payment for public projects.
  • You will be able to explain the procedures for bonding off a mechanics lien claim.

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    Who should attend?

    This live webinar is designed for attorneys, presidents, vice presidents, construction managers, project managers, architects, engineers, contractors, subcontractors, lending professionals, business owners and managers, developers, controllers and accountants.

    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

    The cost of this Bonds and Payments of Illinois Mechanics Liens live webinar is $199 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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