Contract ‘closure’

Having successfully bought and integrated the varying sub-components and sub-systems that comprise our supra-system, and demonstrated satisfactory completion of specific tests demanded under the terms of the contract, it is time to draw the contractual relationships to a close so that the various parties can know that their legal responsibilities have been fully discharged and that any defects liability (or ‘warranty’) arrangements can commence. At this stage, of course, final payment can usually be made.

How all this happens will depend to a large extent upon the precise terms of the contract and what these terms demand.

Handover and contract closure can occur when a contract has been ...

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