a. The significance of substantial completion is: – it is the end of the contract time (owner-contractor agreement) – it begins the warranty/correction period – it begins the period for statute of limitations on professional liability – it signifies the work is complete enough for the owner to occupy the space for its intended...
Contractor’s warranty extends after substantial completion until expiration of applicable statue of limitations period — in addition, one year correction period exists. Thus Owner must give prompt notice to Contractor and opportunity to fix. The one year period is extended by work after substantial completion but not by corrected work. (ch 12, A201)