Someone, anyone, please help me with this one... I am just not seeing it.
Question 69. Which of the following does NOT happen at Substantial Completion?
1. Owner release retainage money.
2. Contractor submits Consent of Surety.
3. Notice of Completion filed with local jurisdiction.
4. Owner assumes responsibilities for security, maintenance, heat, utilities, damage to the Work and insurance.
My reasoning:
#1 - Yes that can happen, maybe not all the retainage, but yes it happens.
#2 - Yes, that happens also, usually if #1 happens.
#3 - Maybe, maybe not...
#4 - Definite yes.
The correct answer in the Guide Book is #2. But in my mind, all 4 choices can happen. So I immediately start looking for the one answer that is not as strong as the others, and that is #3. When I read the answer in the back of the book I about had a fit. Being one of the last questions in the guide book I was already a little sore over some of Woo's explanations for previous answers and this one just put me over the edge. It just did not seem right to me, I remember there being a clause in AIA A201 about Consent of Surety at both Substantial Completion and Final Completion and when I went back to look, sure enough, there it was. Section 9.8.5 "Upon such acceptance (referring to the work being complete) and consent of surety. if any, the Owner shall make payment of retainage..."
Is it me? Am I missing something?? If I am seeing this wrong??? I need to know... Please help. Thank you!