APPENDIX A
The Swan Guarantee

Contract Terms — Timeline Credit

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Contract Terms — Timeline Credit

The following terms apply to the timeline credit described in Section 2 of The Swan Guarantee when this document is incorporated into a construction agreement.

 

Scope of the credit.

The daily credit applies only to delays caused by matters within Swan Custom Builders’ reasonable control. It does not apply to delays caused by:

  • Severe weather events or natural disasters
  • Permitting, utility-connection, or inspection backlogs
  • Supplier or trade-partner failures outside Swan’s reasonable mitigation
  • Owner-requested change orders that affect the schedule
  • Owner-caused delays in selections, approvals, payments, or site access
  • Any other circumstances of force majeure

 

Credit amount and cap.

The credit shall be $150 per business day that the project runs beyond the locked completion window. The total credit under this provision shall not exceed thirty (30) business days, or $4,500 in the aggregate, unless otherwise agreed in writing by both parties.

 

How the credit is applied.

Any credit owed under this provision will be applied to the final invoice at closing, or paid directly to the Owner if no balance remains at the time of closeout.