by Rob Dreger | Aug 19, 2020 | Construction, Contracts, Escrow, Real Estate
What does an escrow agent do? And what is a Construction Escrow Agreement? Most construction project finances are handled by a third party, typically a title company or a bank, which acts as fiduciary, receiving and approving all contractor payout requests. This third...
by Rob Dreger | Aug 12, 2020 | Construction, Contracts |
In my recent series of blogs, I have discussed the importance of detailed construction management paperwork and the critical role it plays in ensuring that the financial aspects of a construction project stay on course. In this blog, I will examine one of the core...
by Rob Dreger | Aug 4, 2020 | Construction, Contracts, Escrow
Don’t let the payout process turn into a wrestling match. The Waiver of Lien: Definition and Drafting In my last blog, I explained why it is so crucial to have a Contractor’s Sworn Statement for every construction project. This document, which requires...
by Rob Dreger | Jul 28, 2020 | Construction, Contracts, Escrow |
The Contractor’s Affidavit triggers the greenlight for payment, so that your payment is not for the birds. The Contractor’s Affidavit: Definition and Drafting In my last blog, I explained the importance of the Waiver of Lien. Specifically, I stated that...
by Rob Dreger | Jul 21, 2020 | Construction, Contracts, Escrow
Last time, I discussed how change orders with extras are defined by the Illinois courts. In the process, I let you know the five requirements needed by the state of Illinois in order for an extra to be accepted as valid. To review, the mandates for extras are as...
