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The Punch List and Other Close-out Requirements

  • Sidney M. Levy

Abstract

Most construction contracts include a provision to withhold 10 percent from each requisition submitted by the contractor, and this retainage, which often represents the contractor’s entire overhead and profit for the job, is not to be released until all of the close-out requirements included in the contract have been met. Human nature being what it is, at the end of a project everyone is thinking about that new job starting in a few weeks, and the pressure applied all through the current project seems to level off as construction activity winds down. But an extra effort must be exerted to clean up all loose ends and obtain final payment before moving on to another project, leaving a satisfied owner on the just-completed building.

Keywords

Utility Cost General Contractor Construction Contract Final Payment Specification Book 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Van Nostrand Reinhold 1992

Authors and Affiliations

  • Sidney M. Levy

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