The ConsensusDocs' 815 triggers the release of retention withheld to achieve final completion. Final completion indicates that work is in conformance with the contract documents and free of patent defects.
When the Owner and Trade Contractor agree that the subcontract work is complete, the this standard construction contract form establishes that final completion has been achieved and the date of final completion. This document triggers the release of retention withheld to achieve final completion. Final completion indicates that work is in conformance with the contract documents and free of patent defects. Note: this document is exclusive to ConsensusDocs, there is no AIA equivalent .
Client Success Stories Using This Contract
Over seven years ago, COAA and several other construction organizations began a process to develop a set of model contract documents that fairly apportioned risk, represented industry best practices, and made owners an active participant in crucial decisions in project execution. The new documents released today continue to build upon this ground-breaking heritage. As the largest organization of construction project owners in the country, COAA is pleased to announce its continued endorsement of these new and updated ConsensusDocs.
These innovative documents are the result of months and years of review and negotiations with other significant partners in the construction process. Given today’s emphasis on collaboration and creating an environment of inclusiveness in projects, it is significant to note that these documents are the result of drafting sessions open to all ConsensusDocs organizations and other industry experts. These robust exchanges of positions evolved into the equitable risk and responsibility allocations contained in the contract language released today. All members of the capital project team can be confident that ConsensusDocs provides a thoughtfully considered, balanced and fair framework for a successful project.