Final Handover الاستلام النهائي
Definition
A handover taking place after the defects liability period expires with no outstanding defects, releasing the balance of the retention, discharging the performance bond and ending the principal obligations.
Example
Final handover a year after the preliminary one released SAR 205,000 of retention.
Where it is used
Closing the project contractually and financially.
Related terms
From the term to the work
Etimadco turns these concepts into daily working tools for your projects.
Start free