Common use of Substantial Completion and Punch List Clause in Contracts

Substantial Completion and Punch List. 5.4.1 When the Contractor believes that the Work is substantially complete, the Contractor shall so notify the City in writing. Upon receipt of Contractor’s notice, the City shall conduct an inspection of the Work to determine whether the Contractor has achieved Substantial Completion. If the City finds that the Contractor has failed to achieve Substantial Completion, the City shall provide Contractor written notice describing the reasons for the City’s decision. In such event, Contractor shall address the matters set forth in the City’s notice and, once fully addressed, again provide notice to the City as provided herein. If the City deems the Work is substantially complete, the City shall prepare and the parties shall execute a Certificate of Substantial Completion affixing the date of Substantial Completion and establishing the obligations of the Contractor and City after such date. The Contractor and the City shall inspect the Work and attach to the Certificate of Substantial Completion a list of items to be completed or corrected (the “Punch List”). The Contractor shall complete all items on the Punch List within twenty-one (21) calendar days from the date of issuance of the Punch List by the City. 5.4.2 Upon the City’s determination that Contractor has achieved Substantial Completion and the issuance of the Certificate of Substantial Completion, including attaching the Punch List, the City shall pay the Contractor an amount sufficient to increase total payments to the Contractor to one hundred percent (100%) of the Contract Price less an amount, to be determined in the sole discretion of the City, equal to two hundred percent (200%) of the reasonable value of the cost to complete the Punch List, to complete any and all incomplete Work, to correct and bringing into conformance any and all defective or nonconforming Work, and to resolve or settle all unsettled claims.