Punch list
The list of outstanding items, defects, or incomplete work identified at a yacht's delivery or refit redelivery, to be completed by the yard before final acceptance.
The punch list (or snag list) is the buyer's record of items not at acceptance condition at delivery. A diligent owner's representative on a 40 to 50 metre new build will typically generate 800 to 1,500 items by delivery; the published Inglis case at ULTIMAR documented 1,200 items where the family office's own count was 100. Punch-list management with the yard, with a withheld retention against final closure, is the standard discipline; final payment held against punch-list closure is the buyer's lever.