Common use of Basis of Guaranteed Maximum Price Clause in Contracts

Basis of Guaranteed Maximum Price. 7.2.1 The Construction Manager shall include with the Guaranteed Maximum Price proposal a written statement of its basis, which shall include: (a) a list of the Drawings and Specifications, including all Addenda thereto and the other Contract Documents, which were used in preparation of the Guaranteed Maximum Price proposal; (b) If allowed by the Owner, a list of allowances and a statement of their basis, including all assumptions shall be included in the Guaranteed Maximum Price (any expenditures of allowances shall require the Owner’s prior written approval); (c) a list of the clarifications and assumptions made by the Construction Manager in the preparation of the Guaranteed Maximum Price proposal to supplement the information contained in the Drawings and Specifications; (d) a statement of the Construction Cost, organized by proposed bid package trade categories, allowances, contingency, change orders, general conditions items and the fee that comprise the Guaranteed Maximum Price; (e) the Construction Schedule depicting the Work and the Date of Substantial Completion upon which the Guaranteed Maximum Price proposal is based; (f) the costs for permits, anticipated tests, inspections, and other similar costs associated with the Work, which shall be carried as an Owner’s set-aside, outside of the Guaranteed Maximum Price; and (g) all applicable taxes (the Guaranteed Maximum Price shall not be changed as the result of the Construction Manager’s failure to include any applicable tax, or as a result of any change in the Construction Manager’s tax liabilities).

Basis of Guaranteed Maximum Price. 7.2.1 The Construction Manager shall shallwill include with the Guaranteed Maximum Price proposal a written statement of its basis, which shall shallwill include: (a) a list of the Drawings and Specifications, including all Addenda thereto and the other Contract Documents, which were used in preparation of the Guaranteed Maximum Price proposalproposal ; (b) If allowed by the Owner, a list of allowances and a statement of their basis, including all assumptions shall shallwill be included in the Guaranteed Maximum Price (any expenditures of allowances shall shallwill require the Owner’s prior written approval); (c) a list of the clarifications and assumptions made by the Construction Manager in the preparation of the Guaranteed Maximum Price proposal to supplement the information contained in the Drawings and Specifications; (d) a statement of the Construction Cost, organized by proposed bid package trade categories, allowances, contingency, change orders, general conditions items and the fee that comprise the Guaranteed Maximum Price; (e) the Construction Schedule depicting the Work and the Date of Substantial Completion upon which the Guaranteed Maximum Price proposal is based; (f) the costs for permits, anticipated tests, inspections, and other similar costs associated with the Work, which shall shallwill be carried as an Owner’s set-aside, outside of the Guaranteed Maximum Price; and (g) all applicable taxes (the Guaranteed Maximum Price shall shallwill not be changed as the result of the Construction Manager’s failure to include any applicable tax, or as a result of any change in the Construction Manager’s tax liabilities).