Common use of GUARANTEED COMPLETION DATE Clause in Contracts

GUARANTEED COMPLETION DATE. This agreement serves as a guarantee of substantial completion to a forecasted completion date. Substantial completion is defined as: the ability to use the remodeled space for its intended purpose. This guaranteed completion date does not guarantee that all miscellaneous punch list items, modifications, or even all material installations will be 100% complete by the guaranteed completion date. Substantial completion of the Project that is the subject of this Agreement is anticipated to take weeks / days from commencement of work. For purposes of this Agreement, weeks and working days will be defined as Monday through Friday, excluding weekends and holidays. Please note some slack has been built into the schedule to accommodate for special orders that arrive late, defective materials, incorrect materials delivered to the site, labor unavailability, weather problems and/or other circumstances beyond the control of the Contractor. However, customer-requested change orders, unavailable owner-supplied fixtures, delayed owner-supplied labor, and circumstances beyond the control of the Contractor will add days and may extend the guaranteed completion date beyond the date that is originally promised at contract signing. Contractor will present Homeowner with a guaranteed completion date prior to contract signing. Please see section 10. Change Orders for further detail on communication of additional working days added to the guaranteed completion date. If Contractor fails to reach substantial completion by said Guaranteed Completion Date plus all additions of days relating to change orders, Contractor will refund Client $40.00 per work day (Monday through Friday – excludes weekends) to be reflected on final invoice as credit of Contractors Management Fee.

GUARANTEED COMPLETION DATE. This agreement serves as a guarantee of substantial completion to a forecasted completion date. Substantial completion is defined as: the ability to use the remodeled space for its intended purpose. This guaranteed completion date does not guarantee that all miscellaneous punch list items, modifications, or even all material installations will be 100% complete by the guaranteed completion date. Substantial completion of the Project that is the subject of this Agreement is anticipated to take weeks / days from commencement of work. For purposes of this Agreement, weeks and working days will be defined as Monday through Friday, excluding weekends and holidays. Please note some slack has been built into the schedule to accommodate for special orders that arrive late, defective materials, incorrect materials delivered to the site, labor unavailability, weather problems and/or other circumstances beyond the control of the Contractor. However, customer-requested change orders, unavailable owner-supplied fixtures, delayed owner-supplied labor, and circumstances beyond the control of the Contractor will add days and may extend the guaranteed completion date beyond the date that is originally promised at contract signing. Contractor will present Homeowner with a guaranteed completion date prior to contract signing. Please see section 10. Change Orders for further detail on communication of additional working days added to the guaranteed completion date. If Contractor fails to reach substantial completion by said Guaranteed Completion Date plus all additions of days relating to change orders, Contractor will refund Client $40.00 per work day (Monday through Friday – excludes weekends) to be reflected on final invoice as credit of Contractors Management Fee.