10.5.7 Close-Out

After Completion has been achieved, the private party is obliged to expeditiously and diligently progress the balance of the works required to achieve Close-Out. This will occur when the private party has completed:

(a) the balance of the works outstanding as at Completion, including correcting all defects specified in the Certificate of Completion; and

(b) the private party has done everything required to be done by the Project Contracts (including the Output Specification) as a condition precedent to Close-Out.41

A process similar to that which applies to Completion in section 10.5.1(b) will then apply for determining whether Close-Out has occurred.

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41 See Chapter 11 (Protection against late or insufficient performance of the project activities) for security that government may seek for completion of the balance of the works and activities to achieve Close-Out.