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substantial completion

   Also found in: Encyclopedia 0.01 sec.
substantial completion
The point at which a construction contract has been completed to the point that the owner or tenant may use the property in the manner in which it was intended,even though some work may remain undone. As used in leases for the start date of rent, construction loans for the maturity of the loan,and construction contracts defining the timing of draw schedules, the term may be defined someplace else in the document. That definition, if it exists, will control the rights and responsibilities of the parties, even if the definition is completely different from the normal understanding of the parties.


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This is actually called substantial completion and what that means is we're not holding traffic anymore.
With groundbreaking in August 2007, the building is moving toward substantial completion for October 2010.
Second, during 2011 to 2012, substantial completion of high-speed railway will bring EMU to peak demand, while in 2013 to 2020, demand for EMU is only replacement or repairs as a result of the accomplishment of the high-speed railway construction, and demand for high-power locomotives will remain strong.
 
 
 
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