Yeah, they are pretty much the same thing, just different names depending on where you are. Basically, it is a list of small things that need to be fixed before the project is officially done. My advice is to start early. Do not wait until the last day because then you will have a massive pile of work. I saw a post where snag list explained the whole concept really well and it helped me understand the inspection stages better. It is better to do rolling inspections throughout the build. That way, you catch issues while the subcontractors are still on-site and it is easier to get them fixed. Good luck with your project!