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...
by Rob Dreger | Jul 14, 2020 | Construction, Contracts, Escrow
In my last blog, I provided an overview of change orders. These important forms document any modifications in the construction project’s original scope of work. Also, change orders fall into one of two main categories: Changes with a cost impact Changes with no cost...
