The final phase of a project including punch list completion, inspections, certificate of occupancy, O&M manual submission, and final payment.
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In the Field
Closeout drags — subs disappear after substantial completion. Build closeout requirements (as-builts, O&M manuals, attic stock) into the subcontract with retainage tied to delivery. Start collecting documents 60 days before you need them.
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Rule of Thumb
Budget 2–5% of contract value and 4–8 weeks minimum for closeout activities on commercial projects. Don't treat it as an afterthought.