Cost Of Completion

Business, Legal & Accounting Glossary

Definition: Cost Of Completion




What is the dictionary definition of Cost Of Completion?

Dictionary Definition


n. 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.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/cost-of-completion/
Modern Language Association (MLA):
Cost Of Completion. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 22, 2021 https://payrollheaven.com/define/cost-of-completion/.
Chicago Manual of Style (CMS):
Cost Of Completion. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/cost-of-completion/ (accessed: September 22, 2021).
American Psychological Association (APA):
Cost Of Completion. PayrollHeaven.com. Retrieved September 22, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/cost-of-completion/

Definition Sources


Definitions for Cost Of Completion are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 3 Views.