Acts and Regulations

2020, c.29 - Construction Remedies Act

Section 7
Disposition versions

Full text
Substantial performance
7(1)For the purposes of this Act, a contract is substantially performed
(a) when the improvement under the contract is ready for use or is being used for the purposes intended, and
(b) when the improvement is capable of completion or, if there is a known defect, of correction, at a cost of not more than
(i) 3% of the first $250,000 of the contract price,
(ii) 2% of the next $250,000 of the contract price, and
(iii) 1% of the balance of the contract price.
7(2)For the purposes of this Act, when the improvement is ready for use or is being used for the purposes intended and the owner and the contractor agree not to complete the improvement expeditiously or, due to reasons beyond the control of the contractor, the improvement cannot be completed expeditiously, the value of the services or materials remaining to be supplied and required to complete the improvement shall be deducted from the contract price in determining substantial performance.
Substantial performance
7(1)For the purposes of this Act, a contract is substantially performed
(a) when the improvement under the contract is ready for use or is being used for the purposes intended, and
(b) when the improvement is capable of completion or, if there is a known defect, of correction, at a cost of not more than
(i) 3% of the first $250,000 of the contract price,
(ii) 2% of the next $250,000 of the contract price, and
(iii) 1% of the balance of the contract price.
7(2)For the purposes of this Act, when the improvement is ready for use or is being used for the purposes intended and the owner and the contractor agree not to complete the improvement expeditiously or, due to reasons beyond the control of the contractor, the improvement cannot be completed expeditiously, the value of the services or materials remaining to be supplied and required to complete the improvement shall be deducted from the contract price in determining substantial performance.