What is a "punch list" in construction?

A "punch list" in construction refers specifically to a list of final tasks and corrections that need to be completed prior to the finalization of a project. This list typically entails items that do not meet the project's specifications or quality standards, such as unfinished work or minor repairs that need attention. The punch list is usually created toward the end of the construction process and is crucial for ensuring that the project is delivered to the client in a satisfactory manner. It serves as a tool for both the contractor and the client to confirm that all aspects of the work have been adequately completed before the final payment is made and the project is officially closed out.

Other options, while relevant to the construction process, do not accurately capture the meaning of a punch list. A materials list pertains to supplies, required permits relate to legal compliance, and a list of potential buyers addresses marketing aspects rather than the completion standards of a construction project.