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(Updated 2017) Purchase Options

This standard construction contract form establishes the date of substantial completion of the subcontract work. Substantial completion of subcontract work may include a designated portion of the subcontract work for which an Owner may make unscheduled beneficial use of a project. The Subcontractor and Constructor (aka builder, general contractor, design-builder, construction manager) both sign this document.  Doing so triggers the release of retainage in accordance with the contract documents minus retention for completion.

Purchase Options

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