AN ESSENTIAL ELEMENT OF THE CONTRACT. The Contract Time is the time between the dates indicated in the Notice to Proceed for commencement of the Work and for achieving Substantial Completion. The Contract Time can be modified only by Change Order. Failure to achieve Substantial Completion within the Contract Time or as otherwise agreed to in writing will cause damage to Owner and may subject Contractor to liquidated damages as provided in the Contract Documents. If Contractor fails to achieve Final Completion in a reasonable time after Substantial Completion, Contractor shall be responsible for Owner’s damages including, but not limited to, additional inspection, project management, and maintenance cost to the extent caused by Contractor’s failure to achieve Final Completion.
Appears in 27 contracts
Samples: Agreement, Agreement Between Owner And, Standard Agreement
