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The term "punch list" specifically refers to a list of items that need to be completed or corrected before a construction project can be finalized. It is typically created towards the end of a project, after substantial completion has been achieved. The purpose of the punch list is to ensure that any minor adjustments, repairs, or finishing touches are identified and addressed. This can include tasks such as paint touch-ups, fixing small defects, or ensuring that all features and systems are functioning as intended.

The use of a punch list is crucial because it helps in maintaining quality control and ensures that the contractor meets the client’s expectations before the final payment is made. This process also serves as protection for both the contractor and the homeowner, as it clarifies the remaining work and allows for a smooth project closeout.