Guide to JCT Intermediate Building Contract 2016

4 Possession and completion

4.1 The date of possession or commencement and the date for completion of the work are key dates in any building contract and IC16 requires a ‘Date of Possession’ and a ‘Date for Completion’ to be inserted in the contract particulars. IC16 also offers the facility for the work to be carried out in phases. If this is required, then the work must be split into clearly identified ‘Sections’, and a separate ‘Date of Possession’ and ‘Date for Completion’ entered for each section. The contractor is required to take possession on the date of possession and complete by the date for completion, and if it fails to do so it may be liable to pay liquidated damages.

4.2 There is provision for deferring the date of possession and ...