Common use of Final Requisition Clause in Contracts

Final Requisition. Upon achieving Final Completion in accordance with Section 3.21 (Final Completion), the Design-Builder shall prepare and submit to the Owner a final Requisition. The final Requisition shall include: (1) A certificate from the Design-Builder’s surety in a form, reasonably acceptance to the Owner, that the surety agrees that final payment of the Design-Build Price shall not relieve the surety of any of its obligations under the Performance Bond or the Payment Bond; (2) a contractor’s affidavit regarding settlement of claims and complete and legally effective releases or waivers in a form provided by California Civil Code Section 3262 and acceptable to the Owner in the full amount of the Design-Build Price, or if any Subcontractor refuses or fails to furnish such release or waiver, a bond or other security acceptable to the Owner to indemnify the Owner Indemnitees against any payment claim; and (3) a list of all pending property damage and personal injury or other insurance claims arising out of or resulting from the Design-Build Work, identifying the claimant and the nature of the claim.