ILCS » Chapter 110 · Act 62
Illinois Compiled Statutes

110 ILCS 62/20 (2026)

Guarantee

✓ current as of May 2026
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(110 ILCS 62/20)
    Sec. 20. Guarantee. The guaranteed energy savings contract shall include a written guarantee of the qualified provider that either the energy or operational cost savings, or both, will meet or exceed within 20 years the costs of the energy conservation measures. The qualified provider shall reimburse the public university for any shortfall of guaranteed energy savings projected in the contract. A qualified provider shall provide a sufficient bond to the public university for the installation and the faithful performance of all the measures included in the contract. The guaranteed energy savings contract may provide for payments over a period of time, not to exceed 20 years from the date of final installation of the measures.
(Source: P.A. 94-1062, eff. 7-31-06.)

    
Notes of Decisions
Cited in 2 cases, 2008–2008 · leading case: People Ex Rel. Bd. of Trs. of Chicago State Univ. v. Siemens Bldg. Tech., Inc., 900 N.E.2d 414 (Ill. App. Ct. 2008).
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People Ex Rel. Bd. of Trs. of Chicago State Univ. v. Siemens Bldg. Tech., Inc., 900 N.E.2d 414 (Ill. App. Ct. 2008). · cites it 8× “110 ILCS 62/20 (West 1998). The qualified provider must reimburse the university for any shortfall of guaranteed energy savings projected in the contract and must provide a sufficient bond to the university for the installation and performance of all of the energy conservation…”
People v. Siemens Bldg. Tech. (Ill. App. Ct. 2008). · cites it 8× “July 31, 2006 (amending 110 ILCS 62/20 (West 2006)). However, because the guaranteed energy savings contract in the present case was entered into prior to the amendment, we consider the preamended version of section 20 as it applies to this case.”
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