Owner to Prime Contractor (Private): 15 days after approval of invoice. Invoice is deemed approved 25 days after receipt unless owner notifies prime contractor otherwise
Prime Contractor to Subcontractor (Private): 15 days after receipt of payment from owner.
Interest/Penalties (Private): Interest at a rate of 10% per annum.
Owner to Prime Contractor (Public): Local governments: must approve invoice within the later of 30 days after receipt or 30 days after receipt of goods or services. Payment is due 30 days after approval; State government: 60 days of receipt of invoice.
Prime Contractor to Subcontractor (Public): 15 days of receipt of payment from a local government owner; the earlier of 10 business days or 15 calendar days after receipt of payment from a state government owner.
Interest/Penalties (Public): Prime contractors: interest at a rate of 1% per month; Subcontractor: interest at a rate of 2% per month.
Pay-If-Paid Permissible: Yes.
Disclaimer: This information was published on July 1, 2020. Please contact Josh Levy, Eric Meier or Samantha Schacht for modifications made by Illinois since that date. Visit our 50-State Construction Law Map for information on other states.