Common use of Final Payment and Acceptance Clause in Contracts

Final Payment and Acceptance. If Owner is satisfied that the Work has been completed and Design/Builder’s other obligations under the Contract Documents have been fulfilled, Owner will, within ten days after receipt of the final Application for Payment, give written notice to Design/Builder that the Work is acceptable. Otherwise, Owner will return the Application to Design/Builder, indicating in writing the reasons for refusing to process final payment, in which case Design/Builder shall make the necessary corrections and resubmit the Application.

Final Payment and Acceptance. If Owner is satisfied that the Work has been completed and Design/Builder’s Contractor's other obligations under the Contract Documents have been fulfilled, Owner will, within ten thirty (30) days after receipt of the final Application for Payment, give written notice to Design/Builder Contractor that the Work is acceptable. Otherwise, Owner will return the Application to Design/BuilderContractor, indicating in writing the reasons for refusing to process final payment, in which case Design/Builder Contractor shall make the necessary corrections and resubmit the Application.