FINAL COMPLETION, FINAL PAYMENT AND RELEASE OF RETENTION Sample Clauses
The 'Final Completion, Final Payment and Release of Retention' clause establishes the conditions under which the contractor is recognized as having fully completed all contractual obligations, triggering the release of any remaining payments, including retention funds held back during the project. Typically, this clause requires the contractor to submit all necessary documentation, resolve outstanding issues, and obtain formal acceptance from the owner before final payment is processed. Its core function is to ensure that all work is satisfactorily finished and that the owner is protected against incomplete or defective performance before releasing the last portion of payment.
FINAL COMPLETION, FINAL PAYMENT AND RELEASE OF RETENTION. 9.8.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Contracting Officer will promptly make such inspection and, when he/she finds the Work acceptable under the Contract Documents, all items on the Contracting Officer’s Punch List completed to the Contracting Officer’s satisfaction and the Agreement fully performed, the Contracting Officer will promptly issue a final Certificate for Payment, which shall set forth his/her final determination of the actual quantities and measurements of the completed work, and stating that to the best of his/her knowledge, information and belief, and on the basis of its observations and inspections, the Work has been completed in accordance with the terms and conditions of the Contract Documents and that the entire balance found to be due the Contractor, and noted in said final Certificate of Payment, is due and payable. R A F T
9.8.2 Neither the Final Payment nor the retained percentage shall become due until the Contractor submits to the Contracting Officer (1) an affidavit that all payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which GLWA or its property might in any way be responsible, have been paid or otherwise satisfied; (2) consent of surety, if any, to final payment and release of retention; and (3) final, unconditional general releases and final sworn statements and waivers of claim from Contractor and all Subcontractors, Sub- Subcontractors, laborers and material suppliers in the forms required by the Contracting Officer. Notwithstanding the foregoing, the Contractor’s final waiver and unconditional release is not required to be submitted in advance of Final Payment but may be exchanged for Final Payment.
FINAL COMPLETION, FINAL PAYMENT AND RELEASE OF RETENTION. 9.8.1 Upon receipt of notice from Contractor that the Work is ready for final inspection, Owner’s Representative will make such inspection. Final Completion shall be when Owner’s Representative determines that the Work is fully completed and in accordance with the Contract Documents, including without limitation, satisfaction of all "punch list" items, and determines that a Certificate of Occupancy has been issued by the Owner’s Building Official. The City will file a Notice of Completion within 15 days after Final Completion. After receipt of the final Application for Payment, if Owner’s Representative determines that Final Completion has occurred, Owner’s Representative will issue the final Certificate for Payment.
9.8.2 Final payment and retention shall be released to Contractor, as set forth in Article 9.8.3, after:
.1 Contractor submits the final Application for Payment and all submittals required in accordance with Article 9.3;
.2 Contractor submits all guarantees and warranties procured by Contractor from Subcontractors, all operating manuals for equipment installed in the Project, as-built documents, and all other submittals required by the Contract Documents;
FINAL COMPLETION, FINAL PAYMENT AND RELEASE OF RETENTION. 9.8.1 Upon receipt of notice from Contractor that the Work is ready for final inspection, Contracting Officer’s Representative will make such inspection. Final Completion shall be when Contracting Officer’s Representative determines that the Work is fully completed and in accordance with the Contract Documents, including without limitation, satisfaction of all "punch list" items, and determines that a Certificate of Occupancy has been issued by the County’s Building Official. County will file a Notice of Completion within fifteen (15) days after Final Completion. After receipt of the final Application for Payment, if Contracting Officer’s Representative determines that Final Completion has occurred, Contracting Officer’s Representative will issue the final Certificate For Payment.
9.8.2 Final payment and retention shall be released to Contractor, as set forth in Section 9.8.3, after: .1 Contractor submits the final Application for Payment and all submittals required in accordance with Section 9.3;