Substantial and Final Completion Dates Clause Samples

Substantial and Final Completion Dates. The Contractor shall commence the Work promptly upon receipt of the Notice to Proceed issued by PRIFA in accordance with the Contract Documents. The Contractor shall thereafter proceed to carry out the Work diligently in accordance with the schedule requirements set forth in the Contract Documents so as to ensure the substantial completion of the work. Substantial Completion is the stage in the progress of the Work when the work or designated portion thereof is sufficiently complete in accordance with the Contract Documents so that the Owner can occupy or use the work or a portion thereof for its intended use. Substantial Completion of the Work shall be achieved not later than the date that is Seven Hundred Thirty (730) calendar days after the date of issuance of the Notice to Proceed (the "Scheduled Substantial Completion Date"). The Scheduled Substantial Completion Date shall be subject to adjustment by means of a Change Order in accordance with the Contract Documents. Final Completion of the Work shall be achieved not later than Thirty (30) calendar days following the date of achievement of Substantial Completion. The Administrative Closing shall be achieved within Sixty (60) calendar days from the date of Final Completion. Administrative Closing of the Project is part of the Contract Time and included in the same period of Eight Hundred Twenty (820) calendar days. Time is of the essence with respect to all of the obligations of the Contractor under the Contract. The failure to complete the work within the time established by this "Scheduled Substantial Completion Date" will subject the Contractor to liquidated damages as set forth in Section 3.3 above.