Cost Of Completion Legal Meaning and Definition

Here is a simplified definition of the legal term Cost Of Completion.

Cost Of Completion (noun)

The Cost of Completion refers to the monetary sum needed to finish an uncompleted project or contract. It's typically used when projects such as buildings or other contracted tasks do not meet their initial deadline and additional funds are required to ensure its completion. The amount paid to a new contractor or builder to finish an unfinished project is known as the cost of completion.