Punch list

A punch list is the itemized list of remaining or deficient work — incomplete items, damage, and work not conforming to the contract documents — that must be corrected before a construction project is considered complete and final payment is released. It is typically generated near substantial completion during a walkthrough with the owner and architect, with each item assigned to the responsible contractor or subcontractor and tracked to closure. The punch list matters financially as well as practically: retainage release and final payment are usually conditioned on completing it, so open punch items are literally money left on the table. Modern field software replaces the clipboard version with photo-documented items, assignments, due dates and status tracking, so nothing lingers unresolved between the final walkthrough and closeout.

Related term: Retainage