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Eight Steps to a Successful Project Closeout Substantial completion. ... Completion of Punch List Items. ... Submission of Closeout Documents. ... Final Inspection. ... Training. ... Final Payments and Release of Retainage. ... Transfer of Utilities and Facilities. ... Acquisition of Certificate of Occupancy.
FAR 4.804-5 lists the items which the contracting officer must verify during the closeout process: Disposition of classified material is completed. Final patent report is cleared. Final royalty report is cleared. There is no outstanding value engineering change proposal. Plant clearance report is received.
? What is contract closeout? that at its conclusion ends with the physical closing of the contract file and it's removal from active management. the terms of a contract have been met, all administrative actions have been completed, all disputes settled, and final payment has been made.
? All interim or disallowed costs are settled; ? Price revision is completed; ? Subcontracts are settled by the prime contractor; ? Prior year indirect cost rates are settled; ? Termination docket is completed; ? Contract audit is completed; ? Contractor's closing statement is completed; ? Contractor's final invoice ...
Post-construction closeout documents include final inspection reports punch lists as-built drawings operation/maintenance manuals warranty documents Notice of Completion Certificate of Occupancy Release of Liens Final Payment Application and Project Closeout Report.