Construction & Handover
What does the lock-up stage mean?
Lock-up is a construction or payment stage whose meaning must be checked against local law and the contract. It commonly concerns enclosure of the building, but should not be treated as a universal checklist or permission to occupy. Some jurisdictions prescribe stage definitions. Compare the claim with the definition applying to your project and confirm the lender's separate drawdown requirements before payment. A house can reach a payment stage while further work remains.
Official sources:
General information only. Requirements vary by state or territory and change over time, so check the current rules for your location.