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cost of completion definition

the amount of money (damages) required to complete performance (finish the job) when a contract has been breached by the failure to perform. Example when a general contractor breaches by not completing a house, the cost of completion is the actual cost of bringing in a new builder to finish what is left to do. The actual costs become the measure of damages rather than an estimate of cost based on percentage of work to be done.
 
 
 
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