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Substantial completion means the project, or a portion of the project, is fit for its intended use. The owner can then occupy and use the property. There are other important things the date of substantial completion affects: The deadline for payments to the general and subcontractors (final payment and retainage)
What is the difference between final completion and substantial completion?
Substantial completion and final completion are the two final phases of a project. Substantial completion refers to when the building can be used for its intended purpose. Final completion occurs when the project is 100% complete and requires no additional work.
What is the purpose of a G704?
Usually, a construction punch list is created before the project is completed. Specifically, companies will start a punch list when the construction project reaches substantial completion. Substantial completion is a legal term used within the construction industry.
Who provides the certificate of substantial completion?
A G704 is a Certificate of Substantial Completion issued by an architect after the Department of Buildings issues a Certificate of Temporary Occupancy.
What percent is substantial completion?
Think of it as the point at which the project is 95% or more complete. This distinction, however, should not be left up to interpretation. Contractors and project owners must discuss, define, and agree on what precisely substantial completion means for the project.
certificate of substantial completion template
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Substantial performance of a contract occurs when the main obligations have been fulfilled, while minor aspects are incomplete or slightly vary from the contracts exact terms.
What does substantial completion mean?
Certificates are typically issued by a contractor to the project owner. At this point, the project owner, architect, or engineer will inspect the work and approve the work as satisfactory. Once approved, a few critical steps are set in motion. For example, a timeline for all remaining work will commence.
request for substantial completion letter
CERTIFICATE OF SUBSTANTIAL COMPLETION
The work performed under this contract has been reviewed and found to be substantially complete. The date of substantial completion of the project is the date
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