Project Closeout Phase Compensation Clause Samples
The Project Closeout Phase Compensation clause defines how and when payment will be made for services rendered during the final phase of a project, typically after substantial completion. It outlines the specific compensation structure for tasks such as final inspections, documentation handover, and resolution of outstanding issues. By clearly establishing payment terms for the closeout phase, this clause ensures that both parties understand their financial obligations and helps prevent disputes over compensation at the project's conclusion.
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Project Closeout Phase Compensation. This compensation is payable in one lump sum payment upon completion of all contracted services as set forth in Article 16, (Project Closeout Phase), except the requirements set forth in Article 16.7, (Nine Month Inspection), are not required to be completed as a pre-requisite for full payment. In circumstances of protracted duration of the closeout phase through no fault of the A/E, the A/E may petition the CDB PM for partial compensation for services completed.