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What does a certificate of substantial completion mean?
Certificate of Substantial Completion: Confirms that the project is usable for its intended purpose, but minor work remains. The owner assumes possession and financial obligations begin.
Is substantial completion before or after punch list?
This list, commonly referred to as a punch list, is what the contractor will work from to docHub final completion on the project. The punch list will be attached to the certificate of substantial completion and a cost estimate of that work along with a date for it to be completed will be noted on the certificate.
What is the 3 2 1 rule for substantial completion?
The general contractor oversees the entire punch list process and coordinates with subcontractors. Subcontractors are mainly responsible for completing the assigned punch list items. The Project Manager tracks progress and ensures timelines are met.
What is required for a certificate of occupancy in Michigan?
In general, a person who contracts with a property owner to do residential construction or remodeling on a project totaling $600 or more, including material and labor is required to be licensed as either a Residential Builder or a Maintenance and Alteration Contractor. MCL 339.2403(f).
What is considered substantial completion?
A contract or subcontract is complete when the work remaining is capable of being done for not more than three per cent of the first $500,000 of the contract price, two per cent of the next $500,000, and one per cent of the balance (the 3-2-1 test). It is also complete when it is validly certified to be complete.
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At Substantial Completion, the project is not finished. Work remains before final completion is achieved. Typically, the remaining work is limited to punch list items that do not materially interfere with the ability of the owner or the intended user to use the project for the intended purpose.
Related links
Building Design Processes Manual
12 months after substantial completion. The substantial completion date is determined by a SLCPU inspector. Service Area. SLC cannot provide sanitary sewer
construction management contract closeout / final payment
ITEMS TO BE CONFIRMED COMPLETE FROM THE SUBSTANTIAL. COMPLETION PROCESS: 1. Confirm all test reports certificates are submitted and approved, as applicable. ASee more
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