On practical completion, it is common for you to meet with the client on the site, and carry out an inspection. This is usually the time where you hand the keys to the client, and you are paid your final progress payment. Your contract will usually state the specific procedure for practical completion. Here are some tips:
1. If your contract has a specific procedure for practical completion, make sure you follow it. When the project is properly handed over to the client, all the risk gets handed over to the client as well. If you do not follow the rules in your contract, this may mean that the client has possession of the site, but the risk remains with you.
2. If the client asks for the keys to the house before practical completion is reached, you should avoid giving the client the keys. This is because although the client is using the property whenever they like, the risk still remains with you up until the date of practical completion.
This entry was posted on Friday, September 4th, 2009 at 3:29 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.