Completion Of Agreement Meaning

6 December 2020, 1:02 | Uncategorized | Commenti: 0

When defining contractual terms, it is important to consider the framework of construction and possible delays. The owner must have a realistic completion plan in order to accurately plan occupancy, financing and other considerations. While delays and other unforeseen problems may occur during the construction period, it is likely that owners will easily adjust to new completion dates as long as you keep them informed and have reasonable explanations for delays. The court found that the defendant`s interpretation of the contract did not correspond to the usual meaning of the words used. It focused too much on the importance of “property” without taking into account other provisions of the contract and the background, since: – The applicant argued that “before completion” was not qualified and that, therefore, the compensation is on the damages before the conclusion. The contract provided for different completion dates for sections 1 to 3 and section 4, as well as different damage rates for each work in sections 1 to 4. This showed the intention of the parties to allow the completion of one or more sections before the completion of all the work. when it comes to taking into account the essential words that must be interpreted, it is accepted that the less clear they are or, in other words, the less bad the wording, the more the court may be willing to depart from its natural meaning; Under the contract with the company, which expires On June 30, the city must pay US$32 million to the company once the project is completed. If the contract price is not paid at the conclusion of the work according to the duration and terms of the contract, the interest is 5% per month.

The defendant argued that if the contract was properly interpreted, it was not possible to complete a portion before the completion of all the work and that the liquid claims provisions had therefore been rendered unusable. The Tribunal found that there was damage to the patent (i.e. identifiable and observable damages) due to the use of the term “destroyed” (as opposed to “defect” used elsewhere) and because this meaning was relevant under the provision that applies only between signature and completion. The terms of the contract are a specified period (a period or a certain period) during which a contract must be concluded.3 min. However, the owner also wishes to ensure that the preparation period for the contractor`s project is not extended if the contractor does not present a realistic project completion period or is not cautious. In addition, the owner wishes to ensure that the completion time is not extended, as the contractor poses problems such as omission. B to order equipment or materials in a timely manner or failure to properly organize and plan the work.

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