How is Substantial Completion defined in a legal contract?
- Substantial Completion means the stage at which a project or specific part of it is sufficiently complete and satisfactory, allowing the property to be used for its intended purpose. Only minor elements such as touch-ups, adjustments and minor installations remain to be completed or corrected. Seen in 864 SEC filings.
- Substantial Completion means the date determined when the work, or a designated part of it, is sufficiently complete to be operational and fit for the use intended as per the contract. Seen in 260 SEC filings.
- Substantial Completion means the state when the entire project, including major installations, can be occupied or used for its intended purpose. Remaining work can be done without interfering with normal use. The owner will be notified in writing when substantial completion has been reached. Seen in 145 SEC filings.
- Substantial Completion means the work completion point that enables beneficial use of the project or work. Seen in 122 SEC filings.
- Substantial Completion means the stage in a project when it is sufficiently complete so that it can be used for its intended purpose as per the contract documents. Seen in 117 SEC filings.
- Substantial Completion means a written determination that all necessary construction for a project is substantially complete. Seen in 98 SEC filings.
- Substantial Completion means a written determination that the required work under a contract is substantially, but not completely, done and the final approved punch list is approved. Seen in 72 SEC filings.
Please note, these definitions are based on various legal contracts and documents, and actual definitions may vary depending on the context and specific contract wording.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Substantial Completion means the work or project is sufficiently done, ready for its intended use with minor parts remaining.
Relevant Contract Type
Relevant Circumstances
- When a large-scale project is completed in phases
- When determining payment schedules based on project milestones
- In situations involving contractor disputes over work completion
Relevant Sectors
Genie Definition 2
- Substantial Completion means a certified point where work done permits beneficial use of the project.
Relevant Contract Type
Relevant Circumstances
- In cases involving public infrastructure projects
- When determining liability periods in project contracts
- When determining the start of warranty periods
Relevant Sectors
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Substantial Completion means the work or project is sufficiently done, ready for its intended use with minor parts remaining.
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