Closing Out the Job

micbell2000
Flashcards by micbell2000, updated more than 1 year ago
micbell2000
Created by micbell2000 over 7 years ago
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Successful Construction Contract Administration Chapter 19

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Question Answer
When does the "contract time" end? The contract time ends at the date of substantial completion.
What is the difference between substantial and final completion? Substantial completeion is the stage of completion when the owner 'may' occupy or make use of the work for its intended purpose even though there may be various items of incomplete or defective work. Final completion is when the incomplete or defective work and correction lists have been finished. The contractor submits a reciept of final Application for payment, and the Architect has completes a final inpection that determines that the work has been completed in full in compliance with the contract documents.
What is the significance of the notice of completion? Is a legal term, associated with requirements of mechanic's lien laws. It means the work is finished and the persons who have the rieght to lien the owner's property have no more work left to do. Establishes a definitive date for measuring the time periods in the mechanic's lien law.
What is the contractual performance of the "to do" list? pg 192
Describe how Mechanics Lien Laws work. pg 194
List some examples of final submissions. All specified written warrenties. All specified operating instuctions, user manuals, wiring diagrams, parts lists, and spare parts for mechanical and electrical equipment. Keys and keying schedules. Record drawings. All contract drawings and specifications used by the contractors and subconstractionrs.
What does the contractor usually submit at final completion? A written letter of transmittal inventorying all items in detail to create a permanent record for the architects file. The Final application for payment.
Explain the terms retainage, liquidated damages and cash allowances. Retainage: 10 percent that was held to pay to the contractor after the expiration of the Mechanic's lien law. Liquidated damages: payments of allowance of damages to the owner in the event of late completeion. Cash allowances: Difference is projected cost of purchased items vs the actual cost incurred.
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