Final Completion, Acceptance, and Payment Clause Samples

Final Completion, Acceptance, and Payment. A. Final Completion defined: Final Completion shall be achieved when the Work is fully and finally complete in accordance with the Contract Documents. The date Final Completion is achieved shall be established by a final inspection of the Work by Owner following receipt of (1) written notice from the Contractor that the Work is ready for final inspection and (2) a final Application for Payment. When the Owner finds the Work acceptable and fully performed under the Contract Documents and the Contractor has delivered to the Owner all warranties, permits, and operations manuals, the Owner will issue a Notice of Final Completion. In no case shall Final Completion constitute Final Acceptance which is a subsequent, separate, and distinct action. B. Final Acceptance defined: Final Acceptance shall be achieved when the Contractor has completed the requirements of the Contract Documents. The date Final Acceptance is achieved shall be established by Owner in writing. Prior to Final Acceptance, Contractor shall, in addition to all other requirements in the Contract Documents, submit to Owner a written notice of any outstanding disputes or claims between Contractor and any of its Subcontractors, including the amounts and other details thereof. Neither Final Acceptance, nor final payment, shall release Contractor or its sureties from any obligations of these Contract Documents or the payment and performance bonds, or constitute a waiver of any claims by Owner arising from Contractor’s failure to perform the Work in accordance with the Contract Documents. C. Final payment waives Claim rights: Acceptance of final payment by Contractor, or any Subcontractor, shall constitute a waiver and release to Owner of all claims by Contractor, or any such Subcontractor, for an increase in the Contract Sum or the Contract Time, and for every act or omission of Owner relating to or arising out of the Work, except for those Claims made in accordance with the procedures, including the time limits, set forth in Part 8. PART 7 - CHANGES

Final Completion, Acceptance, and Payment. A. Final Completion shall be achieved when the Work is fully and finally complete in accordance with the Contract Documents. The date Final Completion is achieved shall be established by Owner in writing. B. Final Acceptance is the formal action of Owner’s Board of Directors acknowledging Final Completion. Prior to Final Acceptance, the CM/GC shall, in addition to all other requirements in the Contract Documents, submit to Owner a written notice of any outstanding disputes or claims between the CM/GC and any of its Subcontractors, including the amounts and other details thereof. Neither Final Acceptance, nor final payment, shall release the CM/GC or its sureties from any obligations of these Contract Documents or the Public Works Bond, or constitute a waiver of any claims by Owner arising from the CM/GC’s failure to perform the Work in accordance with the Contract Documents. C. Acceptance of final payment by the CM/GC, a Subcontractors or material supplier shall constitute a waiver of claims by that payee except those previously made in writing and identified in writing by that payee as unsettled at the time of final Application for Payment. Such waivers shall be in addition to any waivers of Claims resulting from the operation of other provisions of the Contract Documents.

Final Completion, Acceptance, and Payment