Details and Effect of the GMP Cost Limitation. (a) The Design Professional recognizes and agrees that he will design this Project such that the initial Guaranteed Maximum Price will not exceed the GMP Cost Limitation.
Details and Effect of the GMP Cost Limitation. The CM/GC recognizes that the Design Professional is required to design the Project such that the initial Guaranteed Maximum Price will not exceed the GMP Cost Limitation. In contracting with a public or governmental body to render services, the CM/GC is charged with knowledge of any limitation imposed on such body as to amount of money it may spend for a given project; and The GMP Cost Limitation limits the Owner, the Design Professional and the CM/GC prior to, but not after, the establishment of the GMP.
