On the original or extended completion date of the works, we shall visit the site
and write a list of rectifications. By this date, the works should be completed,
usually minus a few small items. Building Control must have also inspected the
works and been provided with all the services certificates (electrics, plumbing,
boiler etc) If they are content, Building Control will sign off the works and issue
you with the Approval. The Contract Administrator will then issue the Practical
Completion Certificate. The Building Contractor will then issue their penultimate
Application for Payment, having agreed the Practical Completion final account with
the Quantity Surveyor. At this time 2.5% of the 5% retention money which has
been held back during the progress of the works is also released and paid to the
Builder. The remaining 2.5% retention money is held back until completion of the
Occupation / handover
At Practical Completion the Owner takes occupation of the building, and the site
is fully handed over from Contractor to Owner.
The Owner must inform their insurance company that they have now taken
occupation, and that Practical Completion has been reached.
At this handover meeting, the plumber, electrician and Contractor will show the
Owners how to control the installed systems, and will hand over the installation
and equipment instruction manuals.
Sometimes Owners want to get into part of a building early, and if the Contractor
agrees, they can take Partial Possession of these parts that are complete. Practical
Completion is deemed as having been reached for that part of the building and
the retention is proportionately released at this stage.