Jurisdiction(s):
United Kingdom

Key definition

Completion definition

What does Completion mean? In legal practice, Completion is the point at which a transaction is finally effected, sometimes called 'closing' in cross‑border deals: consideration is paid and title, assets or rights are transferred after all conditions precedent are satisfied or waived and the required completion documents are delivered. Not generally defined by legislation, it is a contractual expression used across conveyancing, corporate/M&A and finance, informed by common law. Key features include a completion date/time; completion mechanics (agenda or checklist); execution and delivery of transfers and ancillary documents; release of funds (often against undertakings); and, where relevant, escrow or virtual completion. Completion usually fixes when...

Employer remedies in EPC contracts: delay, defects, performance shortfall and reliability - liquidated damages, EOTs, milestones, caps and termination under FIDIC and IChemE forms

Published by a LexisNexis Construction expert

Practice notes

EPC arrangements are typically structured so the contractor shoulders most of the project’s inherent risk, rather than the employer, from the outset. The employer’s focus is on timely delivery and compliance with the specification, leaving the contractor to decide how to achieve this and to determine the means of execution. Consequently, the employer usually pays a higher contract sum for transferring the bulk of those risks to the contractor, reflecting the premium demanded by that allocation. Having agreed a premium for the works, the employer expects actual completion on time and performance in line with the stated requirements, as outlined in the specification. It will also seek mechanisms to enforce these outcomes, or to recoup losses where they are not met, ensuring there is recourse if obligations are missed. This Practice Note considers the remedies available to an employer under an EPC contract, in this context.

Delays to completion

In nearly all EPC forms, the contractor is allotted a defined number of days to finish the works, establishing a firm period within which completion must be achieved under the agreed terms...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...