Description
Understand the legal implications of substantial versus final completion and how to properly close out a project.The terms substantial completion, final completion, and completion are terms of art in construction. They have generally understood meanings and are the subject of contract and case law. These terms can mean different things in different contexts, such as in the warranty, payment, and mechanic’s lien contexts. Owners, contractors, subcontractors, and construction lenders need to understand how to properly close out a project, including the various steps required to achieve these major milestones and the legal implications of substantial versus final completion, particularly when it comes to payment rights. This topic is designed to demystify these concepts in practical terms.
Date: 2023-03-28 Start Time: End Time:
Learning Objectives