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

Guaranteed Maximum Price Proposal and Contract Time. When the Intermediate Design Documents are approved by the Owner, the Construction Manager shall propose a Guaranteed Maximum Price, which shall be the sum of the estimated Cost of the Work and the Construction Manager’s Fee. As the Drawings and Specifications may not be finished at the time the Guaranteed Maximum Price proposal is prepared, the Construction Manager shall provide in the Guaranteed Maximum Price for further development of the Drawings and Specifications by the Architect that is consistent with the Contract Documents and reasonably inferable therefrom. Such further development does not include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment, all of which, if required, shall be incorporated by Change Order. The estimated Cost of the Work shall include the Construction Manager’s contingency, a sum established by the Construction Manager for the Construction Manager’s exclusive use to cover costs arising under Subparagraph 2.2.2 and other costs which are properly reimbursable as Cost of the Work but not the basis for a Change Order.

Guaranteed Maximum Price Proposal and Contract Time. 2.2.1 When the Intermediate Design Documents Drawings and Specifications are approved by the Ownersufficiently complete, the Construction Manager shall propose a Guaranteed Maximum PriceGMP, which shall be the sum of the estimated Cost cost of the Work and the Work, Construction Manager’s Fee. , and Construction Contingency. 2.2.2 As the Drawings and Specifications may not be finished at the time the Guaranteed Maximum Price GMP proposal is prepared, the Construction Manager shall provide in the Guaranteed Maximum Price GMP for further development of the Drawings and Specifications by the Architect that is consistent with the Contract Documents and reasonably inferable therefrom. Such further development does not include such things as changes in scope, systems, kinds kinds, and quality of materials, finishes or equipment, all of which, if required, shall be incorporated by Change Order. . 2.2.3 The estimated Cost cost of the Work shall include the Construction Manager’s contingencyContingency, a sum established by the Construction Manager for the Construction Manager’s exclusive use to cover costs arising under Subparagraph 2.2.2 Section 2.2.2, above and other costs which are properly reimbursable as Cost of the Work but not the basis for a Change Order. The Construction Manager shall notify the City as to the item of Work and cost thereof prior to any and each use of the contingency, and shall maintain a statement of the contingency costs.

Guaranteed Maximum Price Proposal and Contract Time. 2.2.1 When the Intermediate Design Documents Drawings and Specifications are approved by the Ownersufficiently complete, the Construction Manager shall propose a Guaranteed Maximum Price, which shall be the sum of the estimated Cost of the Work and the Construction Manager’s 's Fee. . 2.2.2 As the Drawings and Specifications may not be finished at the time the Guaranteed Maximum Price proposal is prepared, the Construction Manager shall provide in the Guaranteed Maximum Price for further development of the Drawings and Specifications by the Architect that is consistent with the Contract Documents and reasonably inferable therefrom. Such further development does not include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment, all of which, if required, shall be incorporated by Change Order. . 2.2.3 The estimated Cost of the Work shall include the Construction Manager’s 's contingency, a sum established by the Construction Manager for the Construction Manager’s 's exclusive use to cover costs arising under Subparagraph 2.2.2 and other costs which are properly reimbursable as Cost of the Work but not the basis for a Change Order.

Guaranteed Maximum Price Proposal and Contract Time. 2.2.1 When the Intermediate Design Documents Drawings and Specifications are approved by the Ownersufficiently complete, the Construction Manager shall propose a Guaranteed Maximum Price, which shall be the sum of the estimated Cost of the Work and the Construction Manager’s Fee. Guaranteed 2.2.2 As the Drawings and Specifications may not be finished at the time the Guaranteed Maximum Price proposal is prepared, the Construction Manager shall provide in the Guaranteed Maximum Price for further development of the Drawings and Specifications by the Architect Owner’s Representative that is consistent with the Contract Documents and reasonably inferable therefrom. Such further development does not include such things as changes in scope, systems, kinds and quality of materials, finishes or equipment, all of which, if required, shall be incorporated by Change Order. . 2.2.3 The estimated Cost of the Work shall include the Construction Manager’s 's contingency, a sum established by the Construction Manager for the Construction Manager’s 's exclusive use to cover costs arising under Subparagraph 2.2.2 and other costs which are properly reimbursable as Cost of the Work but not the basis for a Change Order.