Common use of Basis of Guaranteed Maximum Price Clause in Contracts

Basis of Guaranteed Maximum Price. The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include: 4.6.1 A list of drawings, specifications, addenda, general, supplementary, and other conditions on which the Guaranteed Maximum Price is based. 4.6.2 A list of unit prices and allowance items and a statement of their basis. 4.6.3 Assumptions and clarifications made in preparing the GMP Proposal, noting in particular any exclusions. The assumptions and clarifications shall take precedence over the drawings and specifications. The Design-Builder shall prepare a separate memorandum that highlights any differences between the then approved drawings and the modifications made in the assumptions and clarifications. Such memorandum shall specifically address any changes in the Project aesthetics, functionality or performance. 4.6.4 The proposed GMP, including a statement of the detailed cost estimate organized by trade categories, allowances, contingency, and other items and the fees that comprise the GMP. 4.6.5 An update to the Project’s schedule to which the Design-Builder will agree to be bound. This update shall be prepared in the same level of detail and in the same manner as the Baseline Schedule. 4.6.6 A subcontracting plan setting forth the names and estimated dollar volume of the work that will be perform by LSBDEs, as certified by the Department of Small and Local Business Development (DSLBD), upon which the GMP is based.

Basis of Guaranteed Maximum Price. The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include: 4.6.1 A list of drawings, specifications, addenda, general, supplementary, and other conditions on which the Guaranteed Maximum Price is based. 4.6.2 A list of unit prices and allowance items and a statement of their basis. 4.6.3 Assumptions and clarifications made in preparing the GMP Proposal, noting in particular any exclusions. The assumptions and clarifications shall take precedence over the drawings and specifications. The Design-Builder shall prepare a separate memorandum that highlights any differences between the then approved drawings and the modifications made in the assumptions and clarifications. Such memorandum shall specifically address any changes in the Project aesthetics, functionality functionality, or performance. 4.6.4 The proposed GMP, including a statement of the detailed cost estimate organized by trade categories, allowances, contingency, and other items and the fees that comprise the GMP. 4.6.5 An update to the Project’s schedule to which the Design-Builder will agree to be bound. This update shall be prepared in the same level of detail and in the same manner as the Baseline ScheduleSchedule and without any change to the Substantial and Final Completion Dates, unless approved by the Department’s Contracting Officer. 4.6.6 A subcontracting plan setting forth the names and estimated dollar volume of the work that will be perform by LSBDEs, as certified by the Department of Small and Local Business Development (“DSLBD”), upon which the GMP is based.

Basis of Guaranteed Maximum Price. The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include: 4.6.1 A list of drawings, specifications, addenda, general, supplementary, and other conditions on which the Guaranteed Maximum Price GMP is based. 4.6.2 A list of unit prices and allowance items and a statement of their basis. 4.6.3 Assumptions and clarifications made in preparing the GMP Proposal, noting in particular any exclusions. The assumptions and clarifications shall take precedence over the drawings and specifications. The Design-Builder shall prepare a separate memorandum that highlights any differences between the then approved drawings and the modifications made in the assumptions and clarifications. Such memorandum shall specifically address any changes in the Project aesthetics, functionality or performance. 4.6.4 The proposed GMP, including a statement of the detailed cost estimate organized by trade categories, allowances, contingency, and other items and the fees that comprise the GMP. 4.6.5 An update to the Project’s schedule to which the Design-Builder will agree to be bound. This update shall be prepared in the same level of detail and in the same manner as the Baseline Schedule. 4.6.6 A subcontracting plan setting forth the names and estimated dollar volume of the work that will be perform by LSBDEs, as certified by the Department of Small and Local Business Development (DSLBD), upon which the GMP is based.