#20 Completion or Not Completion?
In episode 20 of The Subcontractors Blueprint podcast, Jacob Austin is talking all things Completion.
This is yet another topic which is simple on the face of it, but the construction industry has its unique way of making it difficult! Jacob explains terminology including Practical Completion, Sectional Completion, Partial Possession, Early Use and Completion, and explains what they mean to you.
Jacob explains the lack of definition of completion and offers his thoughts on why this is the case, and his solution for that problem. He explains that the sub-contract does not use all of the same terms, and talks through how to apply the completion clause of a JCT Design & Build Subcontract.
Throughout this episode Jacob imparts his industry wisdom, giving practical advice on how you can record completion, and his recommendations to protect yourself on a typical project.
KEY TAKEAWAYS:
- There is no industry recognised definition of Practical Completion
- Practical Completion signifies the end of the work, triggering release of retention, often the final account, liability for LADs stops, requirement to insure ceases, and Defect Rectification period commences.
- Partial Possession and Early Use arrangements may impact access on site, and are a risk to be monitored.
- Practical Completion can occur when a building is ready for beneficial use, however just because a building can be occupied, does not mean PC has been achieved.
BEST MOMENTS:
"There’s only one point in a project that you truly know where you are - before you start! At least then we can all readily agree nothing has happened!”
“If you thought you could look to an Architect for a definition, think again!”
“He must identify the reasons why you haven’t finished, of course in his opinion”
“This isn’t the contractor saying whoah I can’t release your retention on some nonsense technicality”
Jacob is on a mission to help the 1 million SME contractors working within the construction industry. If you've taken something of value from this episode, please share the podcast with someone you know, and pass the value on.
HOST BIO: Meet Jacob Austin, a Chartered Quantity Surveyor with a rich background at industry giants Balfour Beatty, Kier, and Vistry Group. With extensive involvement in education, health, and residential projects spanning various scales, from ÂŁ1000s to ÂŁ100M in concurrent developments, Jacob brings a unique perspective. Having collaborated with numerous small businesses, he's now committed to sharing his expertise to drive their success. Join Jacob on his podcast, where he blends his profound insights and personable approach to offer guidance, industry secrets, and inspirational stories.
LinkedIn - www.linkedin.com/in/jacob-austin/
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