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GMP Proposal Sample Clauses

GMP Proposal. 4.15.1 At the time set forth on Exhibit E, the Design/Builder shall prepare and deliver to the Owner, a Guaranteed Maximum Price (“GMP”) proposal. The Design/Builder shall, at a minimum, include in the GMP proposal: a recital of the specific Construction Documents, including drawings, specifications, and all addenda thereto, used in preparation of the GMP proposal; the five (5) elements of the Guaranteed Maximum Price: Guaranteed Maximum Cost of the Work (hereinafter defined), detailed by each subcontract, trade, or bid division; the Design/Builder’s Contingency for the Work; Guaranteed Maximum Design/Builder’s Staffing Cost (hereinafter defined), detailed by expense category; Guaranteed Maximum General Conditions Cost (includes bond & insurance costs) (hereinafter defined), detailed by expense category; and Guaranteed Maximum for Design/Builder’s Overhead and Profit. a draft schedule of values; a description of all other inclusions to, or exclusions from, the GMP; all assumptions and clarifications; and the final Construction Schedule. 4.15.2 The Design/Builder acknowledges that the Construction Documents may be incomplete at the time the Design/Builder delivers the GMP proposal, and that the Construction Documents may not be completed until after commencement of the Work. Nevertheless, the GMP proposal shall include all costs for the Work required by the completed Construction Documents, and if the GMP proposal is accepted by the Owner, the Design/Builder shall be entitled to no increase in the GMP if the Work required by the completed Construction Documents (i) is required by the Contract for Design/Build Construction, (ii) is reasonably inferable from the incomplete documents, (iii) is consistent with the Owner’s programmatic goals and objectives, (iv) is consistent with the Owner’s Design and Construction Standards and the general industry standards for completion of the Work, (v) is not a substantial enlargement of the scope of Work or (vi) substantially conforms to the nature, type, kind or quality of Work depicted in the incomplete documents. 4.15.3 If the GMP proposal is unacceptable to the Owner, the Owner shall promptly notify the Design/Builder in writing. Within fourteen (14) calendar days of such notification, the Owner, and Design/Builder shall meet to discuss and resolve any differences, inconsistencies, or misunderstandings and to negotiate recommended adjustments to the Work and/or to the GMP. 4.15.4 The Owner may, at its sole discretion ...
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GMP Proposal. When the Parties agree that the design of the Project is sufficiently developed and documented to allow detailed pricing of its construction, CM shall prepare and submit a Guaranteed Maximum Price (“GMP”)
GMP Proposal. A GMP Proposal to Owner shall include the following, unless the parties mutually agree otherwise: i. A proposed GMP; ii. A list of the Drawings and Specifications, including all addenda, used as the basis for the GMP proposal; iii. A list of the assumptions and clarifications made by CM/GC in the preparation of the GMP Proposal, which list is intended to supplement the information contained in the Drawings and Specifications; iv. The Scheduled Final Completion Date upon which the proposed GMP is based, to the extent said date has not already been established under Section 2.b.xx hereof, and a schedule upon which the Scheduled Financial Completion Date is based; v. If applicable, a list of allowances and a statement of their basis and a statement that, to the best of CM/GC’s knowledge, the cost pertaining to such allowance item is a reasonable estimate taking into account (i) the Project plans and other Contract Documents existing at the time the allowance estimate is made; (ii) the labor and material standards and construction means, methods and techniques prevailing in the industry for projects similar to the Project; and (iii) the level of labor and material costs generally prevailing in the locality of the Project at the time the allowance estimate is made.
GMP Proposal. The Guaranteed Maximum Price proposal set forth in Design-Builder’s Base Contract Price Proposal Form (RFP Appendix, Section II) (attached as Exhibit D – Schedule 5.8).
GMP Proposal. GMP Proposal means the written offer from CMR to TFC which includes, among other things, a proposed GMP.
GMP Proposal. The GMP shall be the sum of the estimated Cost of the Work for Each Scope of Work as defined in Article 8 and the Design-Builder’s Fee as defined in Article 7. The GMP is subject to modification as provided in Article 9. The Design-Builder does not guarantee any specific line item provided as part of the GMP, but agrees that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with this Agreement.
GMP Proposal. Each GMP shall be provided by the CM when requested by the Owner, but in general not before one hundred percent (100%) of construction documents with respect to the relevant division of the Project are released by the Designer for permitting and bidding, and no later than thirty (30) calendar days after receipt of all Contractor bids with respect to the relevant division of the Project. The Owner shall accept such GMP or negotiate and reach agreement with the CM on a different GMP within thirty (30) calendar days of the date of the receipt unless such time is mutually agreed to be extended. If the Owner does not accept a GMP within the time period herein provided, such price shall be presumed to be rejected by the Owner.
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GMP Proposal. If requested by Owner, Design-Builder shall submit a GMP Proposal to Owner which shall include the following, unless the parties mutually agree otherwise: i. A proposed GMP, which shall be the sum of: A) Design-Builder’s Fee as defined in Section 6.2.1 hereof; B) The estimated Cost of the Work as defined in Section 6.3 hereof, inclusive of any Design-Builder’s Contingency as defined in Section 6.6.1.2 hereof; and C) If applicable, any prices established under Section 6.1.2 hereof. ii. The Basis of Design Documents, which may include, by way of example, Owner’s Project Criteria, which are set forth in detail and are attached to the GMP Proposal; iii. A list of the assumptions and clarifications made by Design-Builder in the preparation of the GMP Proposal, which list is intended to supplement the information contained in the drawings and specifications and is specifically included as part of the Basis of Design Documents; iv. The Scheduled Substantial Completion Date upon which the proposed GMP is based, to the extent said date has not already been established under Section 5.2.1 hereof, and a schedule upon which the Scheduled Substantial Completion Date is based; v. If applicable, a list of Allowance Items, Allowance Values, and a statement of their basis; vi. If applicable, a schedule of alternate prices; vii. If applicable, a schedule of unit prices; viii. If applicable, a statement of Additional Services which may be performed but which are not included in the GMP and which, if performed, shall be the basis for an increase in the GMP and/or Contract Time(s); and ix. The time limit for acceptance of the GMP Proposal.
GMP ProposalBased on Owner's Project Criteria, the Design Documents, as such may be revised pursuant to Paragraph 3.1.B., and any other Basis of Design Documents upon which the parties may agree, Design-Builder shall submit a Guaranteed Maximum Price (GMP) Proposal to Owner, which shall include the following unless the parties mutually agree otherwise: A. A proposed contract price for the design and construction of the Project, which price shall be in the form of a GMP, which includes Phases 1 and 2; B. A schedule and date of Substantial Completion of the Project upon which the GMP for the Project is based; C. All other information necessary for the parties to enter into the Contract Between Owner and Design-Builder - GMP with the accompanying General Conditions; and D. The time limit for acceptance of the Proposal.
GMP Proposal. If the Department so determines, it may direct the Design-Builder to purchase certain long lead items prior to commencement of the Construction Phase. In the event the Department issues any such directive, the Design-Builder shall make such purchases as the agent for the Department and any such subcontracts or purchase orders shall be assignable to the Department in the event the Department terminates this Agreement or the parties are unable to agree upon a GMP. Upon the Department’s acceptance of the Design-Builder’s Guaranteed Maximum Price Proposal, all then existing contracts for such items shall be assigned by the Department to the Design-Builder, who shall accept responsibility for such items as if procured by the Design-Builder.
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