The Guaranteed Maximum Price. (GMP). A GMP will be established in accordance with Section 3, Part 3 of the General Requirements. The GMP may be replaced by a Lump Sum Price as set forth in Article 3.3.7 of the General Requirements.
The Guaranteed Maximum Price. (GMP) AMENDMENT
The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP of Dollars ($ ). Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents. (While the Contract Price Amendment will be developed in advance or concurrently with the execution of this Agreement, it is recommended that such exhibit include the items set forth in Section
The Guaranteed Maximum Price. 4.1 The Owner, Architect, and Construction Manager shall discuss and reach an agreement as to the extent and degree of completion of final construction drawings and specifications required in order for the Construction Manager to establish and provide a Guaranteed Maximum Price (“GMP”). Within thirty (30) days after receipt from the Architect of final construction drawings and specifications, the Construction Manager shall submit in writing to the Owner and the Architect a Guaranteed Maximum Price for complete construction of the Project in accordance with such drawings and specifications. Said Guaranteed Maximum Price shall include the following: (a) The cost of all labor, equipment, material and supplies necessary for, or utilized in, construction of the Project whether performed or furnished by the Construction Manager, the Trade Contractors, vendors, suppliers or others; (b) the General Conditions costs as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner; and, (c) the Construction Manager’s fee as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner. It is the intent of this provision that the Guaranteed Maximum Price shall include the complete and total cost of constructing the Project in accordance with all requirements of the Contract Documents. The sum of the cost of the Work, any previously executed Early Work Amendments as provided for by Article 6 of this Agreement, the Construction Manager’s General Conditions, and the Construction Manager’s Fee are guaranteed by the Construction Manager not to exceed the amount provided in the GMP Amendment, subject to additions and deductions by changes in the Work as provided in the Contract Documents. Such maximum sum as adjusted by approved changes in the Work is referred to in the Contract Documents as the Guaranteed Maximum Price. Costs which would cause the GMP to be exceeded shall be paid by the Construction Manager without reimbursement by the Owner. All savings, including unused contingency, if any, shall be returned to the Owner. The CM’s guarantee is of the overall GMP and is not a guarantee of any of the individual line items or components comprising GMP, it being understood that underruns and overruns in particular line items or components of the GMP may be used by the CM to offset each other.
The Guaranteed Maximum Price. Established Upon Execution of this Agreement for Performance of the Project.
The Guaranteed Maximum Price. (guaranteeing the maximum price to the Owner for the Cost of the Project and the Construction Manager's Fee) is RM33,500,000. Such Guaranteed Maximum Price will be subject to modification for Changes in the Project as provided in Article 9, and for additional reasonable costs directly arising from delays caused by the Owner. The Guaranteed Maximum Price is made up of the following: Hard Construction Cost - RM30,000,000.00, Soft Construction Cost - RM1,896,000.00, and Construction Manager's Fee - RM1,610,000.00 for a total of RM33,500,000.00.
The Guaranteed Maximum Price. The sum of the Cost of the Work and the CM/GC’s fee is guaranteed by the CM/GC not to exceed [ ] dollars ($[ ]), subject to additions and deductions by Change Order as provided in the Contract Documents.
The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP of “To be determined during Phase 1, subject to proposal acceptance and contract amendment.” Dollars ($TBD). Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP, and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents.
The Guaranteed Maximum Price
