What follows after Final Acceptance is granted?

When Final Acceptance is granted, it signifies that the project has been completed to the satisfaction of the authorities and meets all the required specifications and standards. At this stage, the Contractor's obligations regarding defects are concluded, meaning that any warranty or liability for issues that may arise after this point is limited or ceases to be the Contractor's responsibility, except for any agreed-upon warranty period.

This concept underlines the importance of Final Acceptance as a formal acknowledgment that the work is satisfactory and that the client or project owner is accepting the project as complete. Therefore, the Contractor is relieved from ongoing obligations related to defects in the completed work, leading to the conclusion of the project phase and allowing both parties to finalize their business relationship regarding that particular project.

In contrast, the other options pertain to processes that either would not take place immediately following Final Acceptance or are not part of the standard protocol established within contract management practices. For instance, accepting new project proposals usually pertains to a different phase of contract management, while further inspections or additional funding would not be typical actions taken post-Final Acceptance.