Practical Completion
Definition
Practical completion (PC) is the stage at which a construction project is certified as complete in all practical respects, even if minor snagging items remain outstanding. It is a contractually defined milestone that triggers several key events: the release of half of the retention, the start of the defects liability period, and the transfer of risk and insurance to the employer.
In construction tendering, this means...
Achieving practical completion is one of the most important milestones in any construction project. GCs typically aim to get a PC certificate issued as soon as possible because it releases significant cash (retention) and reduces ongoing liability. Disputes over whether PC has actually been achieved are common, particularly where snagging lists are extensive.
Takshy automates the parts of the tendering process that involve practical completion, extracting scope, managing documents, and keeping your workflow organised from first document to final award.
Automate your tendering with Takshy
Understanding the terminology is step one. Takshy handles the rest, from extracting scope from project documents to sending structured RFQs and managing the returns.
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