Illinois Subcontractors 60 Day Notice
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How to fill out Illinois Subcontractors 60 Day Notice?
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FAQ
If a general contractor refuses to pay his subcontractors, they can make a claim against the payment bond. The surety company will pay out the subcontractors for at least part of their money and take the contractor to court.
Essentially, a subcontractor will perform all or part of the obligations of the contractor's contract.Depending on the Subcontractor Agreement, they may be responsible for providing their own materials and equipment for the task they are hired for. If contractors are the managers, subcontractors are the workers.
Read the Subcontract. Twice. Due diligence. Are the prime contract or the plans and specs incorporated into the subcontract? Consider business objectives. Payment is not the only important provision. What is the bottom line? Negotiate. Think long term. Knowledge is power.
Scope of the Project. Timing for Completion: Duration of Work Clause. Payment and Billing Clause. Independent Contractor Notice. Non-Disclosure Agreement. Non-Complete Clause. Work for Hire Inclusion. Responsibilities for Insurance for Accidental Damages.
Define the needs of the project. Finalize the provisions of the agreement, such as the due dates. Clarify the terms for payment. Write a draft of the contract and send it to the subcontractor for her review. Decide on a method to handle disputes, should one arise between you and the subcontractor.
Put it in writing. Clearly define roles and responsibilities for both the subcontractor and your company. Train for customer service. Many subs lack the benefit of your experience with successful customer service. Pay properly. Evaluate. Take precautions.
The disadvantages contractors doing this work lie in costs: The hourly expenses are high, and the professionals are independent in that they don't report to supervisors inside the company. These factors make it challenging to control the costs of these subcontracts.
If the general contractor goes out of business or files for bankruptcy, you can still file a lawsuit or an insurance claim against any subcontractors who contributed to the construction defect. Subcontractors should also have their own insurance to cover any defects they are responsible for.
Prequalify Your Subs. Before you take pricing or solicit bids from subcontractors you need to make sure they are capable of completing the work, both physically and financially. Know the Signs. Craft a Plan. Put It in a Contract. Protect Yourself. Termination of Contract.
