Importance of PC Certificate

I realised I never asked myself

Under clause 10.4 of NZS 3910:2013, Practical Completion is the formal point at which the Works are considered complete except for minor omissions or defects that meet the criteria in 10.4.1(a)–(c) 1.
The PCC is important because:

• It formally records the date and time Practical Completion is achieved, issued by the Engineer under 10.4.3(a) or 10.4.4 and in the format of Schedule 15 21.
• It stops the Contractor’s exposure to liquidated damages, because liquidated damages only apply up to the time of Practical Completion (clause 10.5.1) 1.
• It triggers the start of the Defects Notification Period, since this period begins on the date of Practical Completion (Schedule 2 amendment to clause 11.1) 3.
• It enables Principal occupancy or use under 10.7.1 (once PCC is issued) 1.
• It is required for bond release—the Principal must notify the surety to release the Contractor’s bond within 5 working days after PCC (Guidelines G3.1.7) 1.
• It is a prerequisite for issuing Final Completion—Final Completion cannot occur until all defects notified after PCC are remedied (Guidelines G11.3) 1.