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What is the purpose of a punch-list (defects list) walk-through in construction?

What is the purpose of a punch-list (defects list) walk-through in construction?

A.

To identify items that do not conform to contract documents that the contractor must complete prior to final payment

B.

To ensure that the construction site is free from debris

C.

To walk through the construction project with the contractor and discover what needs to be completed

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