It may vary between projects. However, in general, it is a stage when all the condition precedent for financing of the project is achieved such that, the project may have the funding as committed by the owners and debt providers. Saving Changes...
Stephanie JaegerLead Consultant| Jaeger Consultants LtdNairobi, Nairobi, Kenya
Financial closure means making sure all
- costs have been accounted for
- all invoices have been raised
- all receipts have been issued
- all man hours have been accounted for
It is very important to formally ensure this, since often there are claims that are raised much later. To prevent this all parties involved in the project should sign a financial closure check-list Saving Changes...
