GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. The Construction Manager hereby submits to The Board of Regents of The Texas A&M University System, pursuant to the provisions of Article 7 of the Agreement by and between the Board of Regents of The Texas A&M University System and Construction Manager the following Guaranteed Maximum Price Proposal for the Student Services Building, Project No. 02-3235, based on Plans and Specifications dated [Date on Drawings Month Day, Year].
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. 3.5.1 Within 45 days after 100% Construction Documents, and prior to performance of Construction Services (unless otherwise directed by Owner in writing), Construction Manager shall prepare and deliver to Owner, with a copy to Professional, the GMP proposal (or, if required, multiple GMP proposals). Proposals will be presented to and reviewed with the Owner at an in-person meeting. Construction Manager shall, at a minimum, include in the GMP proposal(s):
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. The Construction Manager hereby submits to The Board of Regents of The Texas A&M University System, pursuant to the provisions of Article 7 of the Agreement by and between the Board of Regents of The Texas A&M University System and Construction Manager the following Guaranteed Maximum Price Proposal for the Aggie Softball Stadium and the Aggie Track & Field Stadium, Project No. Softball Stadium, 02-3183; and the Track & Field Stadium, 02-3184, based on Plans and Specifications dated [Date on Drawings Month Day, Year].
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. The Construction Manager in preparation of the GMP shall make all reasonable efforts and strive to obtain at least three (3) written or sealed bids, as requested by Owner’s Project Representative, for each trade category of the Work consistent with paragraph 15.33. The Construction Manager shall maintain these bids for the length of time specified in Article 3.16. The Construction Manager must provide the Owner’s Project Representative with a copy of the Bid Advertisement(s), Bid Proposal Form and any related bidding information provided to the subcontractors prior to the presentation of the bids. After bid opening, the bid tabulations and supporting quotes are to be provided to the Owner’s Project Representative for review in association with the presentation of the GMP. The Construction Manager shall include in the GMP the responses from the lowest responsible, responsive bidder. Should the Construction Manager determine it is in the best interest of the Owner to utilize a subcontractor other than the lowest responsible, responsive bidder; the Construction Manager’s decision must be approved in writing by the Owner’s Project Representative prior to entering into the subcontract. Should the Construction Manager see the need/opportunity to self-perform work to the benefit of the Owner, that portion of the work must be competitively bid as described in this Article, ONLY after disclosure to the Owner’s Project Representative, and receiving written approval to bid. Should the Construction Manager see the need/opportunity to utilize a related party or subsidiary subcontractor, that portion of the work must be competitively bid as described in this Article, ONLY after disclosure to the Owner’s Project Representative, and receiving written approval to bid. Self-performed Work proposed by the Construction Manager shall not include the cost of bonding.
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. The Contractor hereby submits to The Board of Regents of The Texas A&M University System, pursuant to the provisions of Article 7 of the Agreement by and between the Board of Regents of The Texas A&M University System and Contractor the following Guaranteed Maximum Price Proposal for the Animal Reproductive Biotechnology Center, Project No. 06-3397, based on Plans and Specifications dated [Date on Drawings Month Day, Year].
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. The offer or proposal of the XXXX submitted on the prescribed form setting forth the GMP prices for the entire Work or portions of the Work to be performed during the construction phase. The GMP Proposal(s) are to be developed pursuant to Article 2 of this Contract.
GUARANTEED MAXIMUM PRICE (GMP) PROPOSAL. When the Design Documents, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement for use as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, are sufficiently complete to establish the scope of work for the Project or any portion thereof, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing for the Owner’s approval, a Guaranteed Maximum Price (“GMP”) or Partial GMP, guaranteeing the maximum price to the Owner, for the construction cost of the Project as a whole (GMP) or designated part thereof (Partial GMP). Such GMP, or Partial GMP, as applicable, will be subject to modification for changes in the Project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the lesser of (1) the GMP (or Partial GMP where appropriate); or (2) the sum of the following: the actual cost of all subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9 necessary for the completion of the Project or applicable part thereof in the case of a Partial GMP, and the Construction Manager's compensation under Article 8. If a Partial GMP is needed, see Exhibit D. This Partial GMP, including cost of the work, in the amount of $ N/A has been reviewed and approved. OWNER SHALL NOT BE LIABLE FOR NOR SHALL IT PAY CONSTRUCTION MANAGER ANY SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE. CONSTRUCTION MANAGER SHALL PAY ALL SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE WITHOUT REIMBURSEMENT FROM THE OWNER. CONSTRUCTION MANAGER AGREES THAT ANY AND ALL SAVINGS BELONG AND/OR REVERT BACK TO THE OWNER.
