• The project close-out and punch list phase is an important one and must be managed properly.
• Pre-punching of the project by the contractor is an effective way to manage the punch list and QC program throughout the project, and minimize the time, energy, and aggravation in completing the punch list.
• Plan to have a close-out meeting to identify all of the operational and administrative close-out requirements for the project.
• Contractors often construct a project on time, within budget, and of high quality, and then ruin their reputation by not closing out a project in a timely and proper manner.
• As-built drawings and documents, operation and maintenance manuals, and warranty information should be gathered throughout the project and checked for accuracy, completeness, and adherence to the project specifications.
• Assemble all final waivers of lien.
• Ensure that all appropriate agencies and personnel have performed the required inspections and approvals.
• Ensure that the administrative close-out of all special programs and contractual administrative requirements have been complied with, for example, wrap up insurance policy, EOE, and surety bonds.
• Obtain a job close-out file and ensure that it is archived for future reference.
• When the final requisition is due to be paid, and all retainers are released, a final waiver of lien is prepared to document the last final payment in accordance with the contract amount and all approved change orders.
• The final waiver of lien also acknowledges that the contractor is accepting the last and final payment as payment in full for the work performed, and that there are no outstanding claims.
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