Construction Guaranteed Maximum Price Sample Clauses

Construction Guaranteed Maximum Price. (GMP) Within ten (10) working days after OWNER approval of the 100% reconciled cost estimate, or at a time mutually agreed upon between the OWNER and the CM, the CM will provide to the OWNER a proposed GMP which will include all trade contract values, and all other project costs including without limitation the CM construction phase fee, the CM-GMP contingency pursuant to Section 10.2 of this Appendix, and the General Conditions allowance. The GMP shall set out each anticipated trade contract amount, the CM's fixed fee, the General Conditions reimbursable cost items including on-site field staff, and all project related costs including but not limited to labor and material and performance bonds and personnel payroll benefits, and the CM GMP contingency. The GMP will not include the CM’s pre-construction costs. The GMP document shall identify the construction documents dates for each trade value on which the GMP is based. Included with its GMP proposal, the CM shall provide two complete, bound sets of the drawings, specifications, plans, sketches, instructions, requirements, materials, equipment specifications, and other information or documents that fully describe the Project as developed at the time of the GMP and that are relevant to the establishment of the GMP. In developing the GMP Proposal, the CM shall coordinate efforts with the Project Designer to identify qualifications, clarifications, assumptions, exclusions, value engineering and any other factors relevant to the establishment of the GMP. The CM shall review the development of the GMP with the OWNER on an ongoing basis to address clarifications of scope and pricing, distribution of contingencies, schedule assumptions, exclusions and other matters relevant to the establishment of the GMP. The use of general allowances in subcontracts is prohibited. The use of specific allowances may be permitted. Any specific allowances must be submitted by the CM to the Owner for approval, on a case by case basis. The GMP shall include the CM’s lump sum fee for the management of the trade work and the general conditions. The lump sum fee includes all CM home office costs, including officers as well as home office and local office support staff, together with all CM overhead costs and profit. The fee shall also include all required services of a home office Project Executive, by whatever name calledand includes the management of the General Conditions work. No additional overhead or profit on direct labor for t...
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Related to Construction Guaranteed Maximum Price

  • Guaranteed Maximum Price The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is: Fifty Million, Six Hundred Four Thousand, Eight Hundred Fifty-Five and no/100 Dollars ($ 50,604,855.00);

  • Guaranteed Maximum Price (GMP Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Eight Hundred Thirty Thousand, Two Hundred Twenty Dollars and Forty-Five Cents ($830,220.45) for the identified Sub-Project.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • GUARANTEED MAXIMUM PRICE PROPOSAL 7.1 At the conclusion of the Design Development phase the Contractor shall prepare and submit a Guaranteed Maximum Price Proposal to Owner based on the Design Development phase documents and review comments. The GMP shall be delivered to the Owner within three (3) weeks of the Design Development review meeting or a date established by the Owner. The GMP Proposal must be prepared in accordance with the guidelines established by Owner and delivered in the format specified by Owner in Exhibit “E” attached to this Agreement. Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal. Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

  • Basis of Guaranteed Maximum Price The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include:

  • No Guaranteed Work Work authorizations are issued at the discretion of the State. While it is the State's intent to issue work authorizations hereunder, the Engineer shall have no cause of action conditioned upon the lack or number of work authorizations issued.

  • Contract Price 5.01 Owner shall pay Contractor for completion of the Work in accordance with the Contract Documents the amounts that follow, subject to adjustment under the Contract:

  • Construction Contract If federal funds are included as part of the financing of the non-OPWC portion of the Project, federal law may prevail, including, but not limited to, application of Xxxxx Xxxxx prevailing wage rates, the Xxxxxxxx “Anti-Kickback” Act, the Contract Work Hours and Safety Standards Act, and any federal environmental regulations. Recipient is solely responsible for ensuring compliance with federal requirements applicable to its Local Subdivision Contribution. Notwithstanding the above, the following provisions apply to construction contracts under this Agreement:

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • Guaranteed Energy Production (A) Throughout the Delivery Term, Seller shall be required to provide to Buyer an amount of Delivered Energy plus Deemed Delivered Energy, if any, no less than the Guaranteed Energy Production over two (2) consecutive Contract Years during the Delivery Term (“Performance Measurement Period”). “

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