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By Stephanie Canham2019-03-20T16:03:00
Stephanie Canham explains why staged completion must be handled with care
Staged completion is often a commercial necessity of development, but how it is dealt with – whether it is thought through before the contract is signed and documented in the building contract or becomes a commercial requirement post award of the building contract – needs to be handled with care.
Staged completion can be dealt with by utilising the well-established sectional completion route where you in effect create mini building contracts within the framework of the building contract you are letting – each part of the overall scope of the works (the “sections”) having its own defined scope, contract sum, commencement date, completion date, liquidated and ascertained damages, if applicable for that section; the terms and conditions of the building contract applying (unless the project specifics require otherwise) to each section.
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