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Substantial Completion Slip Calculator
Completion slip compounds carrying cost.
Net slip cost
$128,322
Added interest cost
$210,822
Rent lost
$142,500
How the math works
Interest = balance × rate × days/365. Rent lost = monthly × days/30. LD recovery offsets. Net = cost − recovery.
$18M × 9.5% × 45/365 = $210k interest. $95k × 45/30 = $142k rent lost. LD recovery $225k. Net cost $127k.
How to Use
- Enter loan balance.
- Enter loan rate %.
- Enter slip days.
- Enter monthly rent projected.
- Enter liquidated damages daily.
- Read total slip cost.
Frequently Asked Questions
Why track SC?
Substantial completion triggers occupancy, rent commencement, lender takeout, and conversion to perm. Each day slipped delays cash flow and extends construction interest. On large projects, each week = $50-200k impact.
Critical path?
Not all delays cost the same. Critical-path delays (structural, major MEP, exterior) push SC directly. Non-critical (punch-list, finishes) can overlap. GC monitors critical path via CPM schedule; owner reviews in weekly OAC (owner-architect-contractor) meetings.
LD vs actual damage?
Contracts often include liquidated damages: $5k-$25k/day for SC slip. Enforceable if reasonable estimate of actual damage. Above LDs, actual costs (extended carry, rent lost, acceleration) may not be recoverable — LDs are typically the full recovery.
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Substantial Completion Liquidated Damages Calculator
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