Common use of Guaranteed Maximum Price Proposal and Contract Time Clause in Contracts

Guaranteed Maximum Price Proposal and Contract Time. 7.1.1 The Owner may at any time request, and the Construction Manager shall thereafter submit within 45 days after the Owner’s request, a proposed “Guaranteed Maximum Price” for the full scope of the Work; provided however, that if the Owner has not then requested a Guaranteed Maximum Price, the Construction Manager shall prepare and deliver a Guaranteed Maximum Price proposal not later than sixty (60) days after the receipt of ninety percent (90%) of the dollar value of the bids. The Guaranteed Maximum Price proposal shall include all of the components identified in Section 7.2. The Owner may accept or reject the Guaranteed Maximum Price proposal.

Guaranteed Maximum Price Proposal and Contract Time. 7.1.1 The Owner may at any time request, and the Construction Manager shall shallwill thereafter submit within 45 days after the Owner’s request, a proposed “Guaranteed Maximum Price” for the full scope of the Work; provided however, that if the Owner has not then requested a Guaranteed Maximum Price, the Construction Manager shall shallwill prepare and deliver a Guaranteed Maximum Price proposal not later than sixty (60) days after the receipt of ninety percent (90%) of the dollar value of the bids. The Guaranteed Maximum Price proposal shall shallwill include all of the components identified in Section 7.2. The Owner may accept or reject the Guaranteed Maximum Price proposal.