What is Meant by Finalization of a Construction Contract?
Pursuant to Clause 1, Article 22 of Decree No. 37/2015/ND-CP, the regulation is as follows:
Final settlement of a contract is the process of determining the final total value of the construction contract that the employer is responsible for paying to the contractor when the contractor has completed all tasks agreed upon in the contract.
The above is the regulation on what constitutes the final settlement of a construction contract according to construction laws.
Respectfully!
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