Trades & Field Service

    Punch list

    A list of small items remaining at the end of a construction job.

    Definition

    Generated at substantial completion. Final payment (or retainage release) is typically tied to clearing the punch list. Document with photos and customer sign-off per item.

    Related terms

    Progress billing

    Invoicing a long job in installments tied to completion milestones.

    Retainage

    A portion of a contract amount withheld until the project is complete.