Final answer:
The payment certifier determines if a certificate of completion can be issued based on the contract terms and project specifications. They may use a percentage-based formula to evaluate the level of completion and consider inspections, approvals, and outstanding deficiencies.
Step-by-step explanation:
The formula used by the payment certifier to determine if a certificate of completion or substantial performance can be issued is based on the terms of the contract between the parties involved. Generally, the payment certifier will evaluate if the work has been completed according to the specifications outlined in the contract, if all necessary inspections and approvals have been obtained, and if any outstanding deficiencies or rectifications have been addressed.
For example, if a construction project requires the completion of certain milestones or tasks, the payment certifier may use a percentage-based formula to determine the level of completion. They may consider the percentage of tasks completed and compare it to the overall scope of the project to determine if substantial performance has been achieved and if a certificate can be issued.
It's important to note that the specific formula or criteria used by the payment certifier may vary depending on the contractual agreement and industry practices. Consulting the contract and relevant guidelines is essential in determining the exact formula used.