Common use of GUARANTEED COMPLETION DATE Clause in Contracts

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16, 2020, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Thousand One Hundred and No One Hundredth Dollars ($2,100) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16September 27, 20202019, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Thousand One Five Hundred and No One One-Hundredth Dollars ($2,1002,500) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder Contractor will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder Contractor will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16March 26, 20202025, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder Contractor or the Design-BuilderContractor’s Surety, the Owner may retain the sum of Two Thousand One Five Hundred and No One Hundredth Dollars ($2,100500.00) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates. The maximum amount of liquidated damages shall not exceed 10% of the Contract Sum.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16December 29, 20202022, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Thousand One Four Hundred and No One Hundredth Dollars ($2,1002,400.00) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 1618, 20202021, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two One Thousand One Nine Hundred and No One Hundredth Dollars ($2,1001,900) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 1615, 20202018, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Thousand One Five Hundred and No One One-Hundredth Dollars ($2,100500.00) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. ‌ Delete Paragraphs 23.1 and 23.2 in their entirety from the existing Part 2 Contract and replace with the below: 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16July 31, 20202016, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Three Thousand One Hundred and No One Hundredth Dollars ($2,1003,000.00) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.

GUARANTEED COMPLETION DATE. 23.1 The Design-Builder will commence the Work within 10 days of the date set by the Owner in a written Notice to Proceed. The Design-Builder will achieve Substantial Completion of the Work no later than the Guaranteed Completion Date of November 16May 29, 20202025, subject to authorized adjustments and in accordance with the Contract Documents. 23.2 It is mutually agreed between the parties hereto that time is of the essence of this Contract and in the event the Work has not achieved Substantial Completion by the Guaranteed Completion Date herein specified, it is agreed that from any money due or to become due the Design-Builder or the Design-Builder’s Surety, the Owner may retain the sum of Two Three Thousand One Five Hundred and No One Hundredth Dollars ($2,1003,500) per day, for each day thereafter, Sundays and holidays included, until the Work is substantially completed, not as a penalty but as liquidation of a reasonable portion of loss that will be incurred by the Owner if Work is not completed on or before the Guaranteed Completion Date. Multiple Substantial Completion Dates may be defined as part of this Contract. In addition, the Owner may retain different sums as liquidated damages if Work is not completed on or before the Substantial Completion Dates.