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Default Not Allowed After Substantial Completion Substantial Completion; Termination-default

Thursday, May 04, 2006 10:51 am

 
Default Not Allowed After Substantial Completion Substantial Completion; Termination-default

A New York court has ruled that once a contractor achieved substantial completion, indicated by owner approval of a payment requisition reflecting 99.5 percent of the contract price, the owner lost the right to terminate the contract for default.

The 845 UN Limited Partnership awarded a contract to Flour City Architectural Metals, Inc. to fabricate and install a curtainwall for Trump Tower in New York City. The curtainwall consisted of large glass panels framed in aluminum and anchored in steel.

The contract ca [...]

 
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