Common use of USE AND POSSESSION PRIOR TO COMPLETION Clause in Contracts

USE AND POSSESSION PRIOR TO COMPLETION. The Exchange shall have the right to take possession of or use any completed or partially completed part of the work. Prior to such possession or use, the contracting officer shall furnish the contractor an itemized list of work remaining to be performed or corrected on such portions of the project as are to be possessed or used by the Exchange, provided that failure to list any item of work shall not relieve the contractor of responsibility for compliance with the terms of the contract. Such possession or use shall not be deemed an acceptance of any work under the contract.