Guidance note: This Section is intended to provide a high-level overview of the completion regime for the Project. References to Returned Works should be deleted if the Project does not involve Returned Works (i.e. works that are to be completed by Project Co during the Development Phase and progressively handed back to their respective facility owners / operators). A diagram depicting the completion regime in the form of a timeline showing each of the contractual phases commencing from Financial Close should be included to assist Respondents' understanding of the completion regime. References to 'Technical Acceptance' can be deleted if the Project does not involve a Technical Acceptance stage (e.g. linear projects). |
The completion regime for the Project includes:
• Technical Acceptance, being the stage when Project Co has completed the vast majority of the technical requirements in respect of the Works and the [insert Project asset(s)] is ready for commissioning;
• Commercial Acceptance, being the stage when Project Co has completed the Works and the Returned Works other than any outstanding works listed in the Remaining Works Schedule and Minor Defects to be completed or corrected by Project Co in order to achieve Final Acceptance; and
• Final Acceptance, being the stage when Project Co has:
- completed the balance of the Works not completed as part of Commercial Acceptance, including all works listed in the Remaining Works Schedule and Minor Defects; and
- handed back all Returned Works to the Returned Asset Owners.
The contractual phases and milestones are depicted in Figure 2 (Summary of Completion Regime).
Figure 2: Summary of Completion Regime
[Insert diagram depicting the completion regime]