Final Completion Procedures Clause Samples
The Final Completion Procedures clause outlines the steps and requirements necessary to formally conclude a project or contract. Typically, this involves verifying that all work has been completed to the agreed standards, addressing any outstanding issues or deficiencies, and obtaining final approvals or certifications from relevant parties. By establishing a clear process for project closure, this clause ensures that both parties have a mutual understanding of when obligations are fully met, thereby reducing the risk of disputes and providing a definitive endpoint to contractual responsibilities.
Final Completion Procedures. On the Final Completion Date, the Disbursement Agent shall (a) in the event that the Final Completion Date shall have occurred prior to the expiration of the six (6) month period commencing on the Completion Date, (i) withdraw all remaining funds from the Bank Proceeds Account and deliver such funds to the Bank Agent, and (ii) withdraw all remaining funds from the FF&E Proceeds Account and deliver such funds to the FF&E Agent, (b) release to the Completion Guarantor all other amounts on deposit in the Completion Guaranty Deposit Account and (c) release to the Company all other amounts on deposit in the Company Accounts, other than the Project Liquidity Reserve Account (unless at such time the Company has satisfied the release conditions set forth in Section 7.27 of the Bank Credit Agreement (as confirmed by the Bank Agent) and Section 10.03 of the Second Mortgage Notes Indenture, in which case the amounts on deposit in the Project Liquidity Reserve Account shall be applied as provided in the Bank Credit Agreement and the Second Mortgage Notes Indenture). The Disbursement Agent may rely on the certifications of the Company, the Construction Consultant, the Project Architect and the Prime Contractor set forth in their respective Final Completion Certificates in determining whether the Final Completion Date has occurred.
Final Completion Procedures. A. Preliminary Procedures: Before requesting final inspection for determining final completion, complete the following:
Final Completion Procedures. 6 2.10 No Approval of Work.............................................................................6 2.11 Security........................................................................................6
Final Completion Procedures. A. Submittals Prior to Final Completion: Before requesting final inspection for determining final completion, complete the following:
1. Certified List of Incomplete Items: Submit certified copy of Owner’s Substantial Completion reinspection list of items to be completed or corrected (Punch List), endorsed and dated by Owner. Certified copy of the list shall state that each item has been completed or otherwise resolved for acceptance.
2. Certificate of Insurance: Submit evidence of final, continuing insurance coverage complying with insurance requirements.
3. Pest Control: Submit pest-control final inspection report and warranty.
4. Permit and Inspection Records: Submit all permit and inspection records for the Project as required in Section 01 78 39 “Project Record Documents”.
B. Procedures prior to Final Completion: Submit a final Application for Payment according to the General and Supplementary Conditions of the Contract.
Final Completion Procedures. (a) No less than thirty (30) days prior to the anticipated Phase II Final Completion Date, the Company shall deliver notice thereof to the Disbursement Agent, the Construction Consultant, the Phase II Primary Contractor and the Bank Agent. Thereafter, in order to cause Phase II Final Completion to occur, the Company shall deliver to the Construction Consultant, the Disbursement Agent and the Bank Agent the Company’s Phase II Final Completion Certificate, appropriately completed and duly executed by a Responsible Officer of the Company together with all attachments thereto.
(b) The Disbursement Agent shall instruct the Construction Consultant to review the Company’s Phase II Final Completion Certificate and to, within ten (10) Banking Days after its receipt thereof, (i) if the Construction Consultant approves the Company’s Phase II Final Completion Certificate, deliver to the Disbursement Agent, the Bank Agent and the Company the Construction Consultant’s Phase II Final Completion Certificate or (ii) if the Construction Consultant disapproves the Company’s Phase II Final Completion Certificate, provide the Disbursement Agent, the Bank Agent and the Company, in reasonable detail, its reason(s) for such disapproval.
(c) The Phase II Final Completion Date shall be deemed to occur on the sixth (6th) Banking Day after receipt by the Disbursement Agent of the Construction Consultant’s Phase II Final Completion Certificate approving the Company’s Phase II Final Completion Certificate unless, prior to such date, the Disbursement Agent advises the Company that the conditions to Phase II Final Completion have not been satisfied and provides the Company, in reasonable detail, the reason(s) for such determination. In the event that (i) the Construction Consultant disapproves the Company’s Phase II Final Completion Certificate in accordance with clause (b)(ii) above or (ii) pursuant to this paragraph (c), the Disbursement Agent advises the Company that the conditions to Phase II Final Completion have not been satisfied, the Company shall revise and resubmit the certificate.
Final Completion Procedures. A Make submittals that are required by governing or other authorities.
1. Provide copies to Architect and Owner. B Obtain and submit to the Architect a Certificate of Occupancy from AHJ. C Provide preliminary inspection to determine items to be listed for completion or correction in the Contractor's Correction Punch List for Contractor's Notice of Final Completion. D Notify Architect in writing when work is considered ready for Architect's Final Completion inspection. E Architect will visit the project to evaluate the request for issuance of a Certificate of Final Completion.
a. If the Architect concurs that the Project is complete, the Architect will deliver a Certificate of Final Completion and a list of work items necessary for completion or correction prior to request for inspection for final completion.
b. If the Architect determines that the work is not complete, the Architect will deliver to the Contractor a written statement including reasons. F Complete work on the items required by the Architect for achieving final completion and make additional written requests for issuance of a Certificate of Final Completion until the Architect determines that sufficient Work has been performed. G Submit written certification containing Contractor's Correction Punch List, that Contract Documents have been reviewed, work has been inspected, and that work is complete in accordance with Contract Documents and ready for Architect's Final Completion inspection. H Conduct Final Completion inspection and create Final Correction Punch List containing Architect's and Contractor's comprehensive list of items identified to be completed or corrected and submit to Architect. I Correct items of work listed in Final Correction Punch List and comply with requirements for access to Owner-occupied areas. J When the punchlist work is considered complete, submit written certification that:
1. When work is considered finally complete and ready for Architect's Final Completion inspection.
2. The Building Permit has been finaled by the AHJ and submit a copy for the Architects and Owners record. K Architect will make an inspection to verify the status of completion with reasonable promptness after receipt of such certification.
1. Should Architect consider that the Work is incomplete or defective:
a. Architect will notify the Contractor in writing, listing the incomplete or defective work.
1) Take immediate steps to remedy the stated deficiencies, and send a second written certificat...
Final Completion Procedures. A. Submittals Prior to Final Completion: Before requesting final inspection for determining Final Completion, complete the following:
1. Submit a final Application for Payment in accordance with Section 012900 "Payment Procedures."
2. Certified List of Incomplete Items: Submit certified copy of Architect's Substantial Completion inspection list of items to be completed or corrected (punch list), endorsed and dated by Architect. Certified copy of the list shall state that each item has been completed or otherwise resolved for acceptance.
Final Completion Procedures. On the Final Completion Date, the Disbursement Agent shall (a) withdraw all remaining funds from the Bank Proceeds Account and deliver such funds to the Bank Agent and (b) release to the account specified in the Final Completion Certificate delivered by LCR and (except after the Phase II Mall Release Date) the Phase II Mall Borrowers all other amounts on deposit in the other Accounts.
Final Completion Procedures. On the Final Completion Date, the Disbursement Agent shall make an Advance to the Company from the HC/Mall Component Funding Sources with respect to any Project Costs of the type described in clause (j) of the definition thereof (even though the procedures set forth in Section 2.5 shall not have been carried out with respect to such Advance) and then shall (a) in the event that the Final Completion Date shall have occurred prior to the expiration of six (6) months after the Completion Date, withdraw all remaining funds from the Bank Proceeds Account and deliver such funds to the Bank Agent, (b) withdraw all funds remaining in the Mall Retainage/Punchlist Account and deposit such funds (i) first, into the Guaranty Deposit Account in an amount up to the aggregate of all amounts previously withdrawn from the Guaranty Deposit Account and deposited in the Mall Retainage/Punchlist Account pursuant to Section 5.9.1 and (ii) then, into the Company's Funds Account, (c) withdraw from the Mortgage Notes Proceeds Account and transfer via electronic wire transfer to an account designated by the Bank Agent the excess, if any, of (i) the amount on deposit in the Mortgage Notes Proceeds Account over (ii) Fifty Million Dollars ($50,000,000), (d) release to the HVAC Provider all amounts on deposit in the HVAC Accounts and all amounts remaining in the HVAC Component Cash Management Sub-Account, to the extent funded from the HVAC Commitment Facility and (e) release to the Company all other amounts on deposit in the Accounts. The Disbursement Agent may rely on the certifications of the Company and the Construction Consultant set forth in their respective Final Completion Certificates in determining whether the Final Completion Date has occurred.
Final Completion Procedures