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GC-60
 
FINAL INSPECTION, FINAL ACCEPTANCE, FINAL STATEMENT AND FINAL PAYMENT

(a) Substantial Completion - When the Contractor thinks that the Permanent Works is substantially completed, Contractor shall notify NIA in writing of substantial completion of the Permanent Works. If NIA agrees after inspection, NIA shall advise Contractor in writing of substantial completion and NIA shall accept and take over maintenance of the part of the Permanent Works.

(b) Final Inspection and Final Acceptance - Whenever all the Works provided and contemplated by the Contract have been completed and the final clean-up performed, Contractor shall notify NIA in writing that all Works under the Contract have been completed, and NIA will, within ninety (90) calendar days after such notice, complete the final inspection and if the Works have been satisfactorily completed in accordance with all the requirements of the Contract and are undamaged, NIA shall advise Contractor in writing or issue a certificate of final acceptance of all the Works.

(c)Final Statement - Upon final acceptance of the Works, Contractor shall present to NIA for review and approval a final statement of the cost of the Works. The final statement shall include an accounting of the final quantities constituting the cost of the Works.

(d) Certificate and Payment - After approval of the final statement, NIA will furnish Contractor with a certificate of final approval and shall pay to Contractor any balance that may be due to Contractor according to the final statement as approved by NIA, except for any amounts that may be involved in any pending claims; provided, that Contractor has complied with the provisions of sub-paragraph (e) below.

(e)Release - The amount due to Contractor under the final statement excepting therefrom such sum or sums as may be lawfully retained under any of the provisions of this Contract, will be paid after Contractor have furnished NIA with a release from any and all further claims against NIA arising under and by virtue of this Contract, other than such claims, if any, as may be specifically exempted by Contractor from the operation of the release and agreeable to NIA; PROVIDED FURTHER, THAT PAYMENT ON THE CONTRACT SHALL NOT BE MADE UNTIL THE CONTRACTOR HAS SUBMITTED A SWORN STATEMENT SHOWING THAT ALL TAXES DUE FROM THEM AND ALL OBLIGATIONS FROM MATERIALS, EQUIPMENT RENTALS USED AND LABOR EMPLOYED IN CONNECTION WITH THIS CONTRACT HAVE BEEN FULLY PAID.