No Requirement: NACM suggests serving notice to the prime contractor within 90 days from last furnishing to prompt payment.
Step 2: Bond Claim
Written verified notice of bond claim to the public authority within 180 days after last performance. Also, a copy of the notice must be sent to the contractor within 10 days thereafter.
Step 3: Suit Against Bond
File suit within 1 year of last furnishing material, labor or services.
Bond Bits
Contracts less then $50,000 are excluded from bond requirements for state jobs, under $5,000 for others.
Amount of Bond – Equal to or greater than 110% of the bid.
Illinois Public Improvement Lien Time Frames
Step 1: Public Improvement Lien
As soon as possible to trap funds.
Step 2: Suit
A contractor can force a subcontractor to file its Public Improvement Lien (PIL) by giving notice to subcontractor. If subcontractor fails to file its PIL within 30 days of notice, the lien is lost.
Suit must be commenced within 90 days of the claimant's PIL or within 15 days prior to the lapse of funds.