Finecraft Building Contractors, Inc.

Important Terms

Important Terms – Residential General Contractor

As a residential general contractor we use certain words and phrases about your project. The following are some important terms we will use during this process:

Substantial Completion:

The project has been completed to a point where it is usable for the purpose(s) it was constructed. This is different than Final Completion (see below.)

Final Completion:

A 100%, fully completed project — including all punch list items.

Punch List: A list of anything which needs to be finished to bring the project to Final Completion. Items outside the original Approved Plans are not included in a Punch List — these are subject to a separate Change Order.

Change Order:

Any item which is not part of the Approved Plans, or any change you want to make to the Approved Plans. Any intended changes need to be communicated to us as soon as possible. Before any work begins on a Change Order the request will be verified and signed by both parties. (Most Change Orders are initiated by the client.) Change Orders must be paid 50% down and 50% upon completion, unless otherwise discussed.


Any issues or concerns which arise after the completion of the punch list, UP TO A PERIOD OF ONE (1) YEAR, are covered under our warranty.

Final Payment:

Final payment is due upon completion of the Punch List.

Finecraft Building Contractors, Inc.

104 Summit Hall Road,

Gaithersburg, MD 20877

Phone. 301-330-9191