Common use of Final Benchmark Clause in Contracts

Final Benchmark. To ensure full performance of each construction Activity and the Project, the GLO has set aside an amount up to ten percent (10%) of Developer’s direct construction costs per Activity until completion and acceptance by the GLO of all actions and tasks for the Activity, as described in Attachment A and the Progress Tracker and Construction Schedule. The GLO shall make the final disbursement to Developer only upon the GLO’s receipt and acceptance of the Milestones and tasks identified in Attachment A and the Progress Tracker and Construction Schedule as required for the completion of the construction phase.