Completion Settlement Clause Samples

Completion Settlement. 32.1 Within 28 days after the project completion acceptance report is approved by the Employer, the Contractor submits a completion settlement report and complete settlement information to the Employer, and the two parties perform the project completion settlement in accordance with the contract price agreed in the agreement and the contract price agreed in the special terms. .

Completion Settlement. 14.1 Application for completion settlement Unless otherwise specified in the Special Terms of the Contract, the Contractor shall, within 28 days after the completion acceptance is qualified, submit the application form of completion settlement and complete settlement data to the Project Owner and the Supervisor. The data list and copies of the application form of completion settlement shall be stipulated by the parties in the Special Terms of the Contract. Unless otherwise specified in the Special Terms of the Contract, the application form of completion settlement shall include: (1) The Contract Price for completion settlement; (2) Payments that have been made by the Project Owner to the Contractor; (3) The Quality Deposit that should be detained. Except where the performance bond has been paid or other forms of project quality guarantee have been provided; ​ ​ ​ ​ ​ (4) The Contract Price that should be paid by the Project Owner to the Contractor. 14.2 Approval of completion settlement (1) Unless otherwise specified in the Special Terms of the Contract, the Supervisor shall, within 14 days upon receipt of the application form of completion settlement, complete the review and submit it to the Project Owner. The Project Owner shall, within 14 days upon receipt of the application form of completion settlement reviewed by the Supervisor, complete the approval, and the Supervisor shall issue to the Contractor the completion payment certificate signed by the Project Owner. If the Supervisor or the Project Owner has objections to the application form of completion settlement, they shall have the right to request the Contractor to revise and provide supplementary data, and the Contractor shall submit the revised application form of completion settlement. If the Project Owner fails to complete the approval and raises no objection within 28 days upon receipt of the application form of completion settlement submitted by the Contractor, it shall be deemed that the Project Owner has approved the application form of completion settlement submitted by the Contractor and that the completion payment certificate has been issued from the 29th day upon receipt of the application form of completion settlement submitted by the Contractor. (2) Unless otherwise specified in the Special Terms of the Contract, the Project Owner shall complete the completion payment to the Contractor within 14 days upon the issuance of the completion payment certificate. If the Project Owner fails...

Completion Settlement. 14.1 Completion Payment Application

Completion Settlement. After the completion report is approved by Party A, Party B shall submit the completion settlement report and the complete settlement data to Party A according to the relevant national regulations or the Contract. Party A shall review and confirm the reports and settlement date within 28 days after receiving such report and settlement data, and shall make the final payment to Party B according to the Contract. Meanwhile, both parties shall conduct the engineering handover formalities. Should Party A fails to make completion settlement on schedule without good reasons, Party A shall bear Party B’s corresponding custodian fees and interest losses.

Completion Settlement. 14.12.1 Submit completion settlement data The Contractor shall submit a completion settlement report and complete completion settlement data to the Employer within 30 days after the completion acceptance report and complete completion data submitted according to the provisions of Article 12.1 are determined by the Employer. The format, content and number of completion settlement data are specified in the special terms and conditions. 14.12.2 Final completion settlement data The Employer shall review and propose modification opinions within 30 days after receiving the completion settlement report and complete completion settlement data submitted by the Contractor. After the parties have reached a consensus on the modification of the completion settlement report and the complete completion settlement data, the Contractor shall amend at its own expense and submit the final completion settlement report and final settlement information. 14.12.3 Settle the funds for completion settlement

Completion Settlement. The format, content and number of copies of completion settlement documents: in six copies.

Completion Settlement