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

Guaranteed Maximum Price Proposal and Contract Time. § 2.2.1 At a time to be mutually agreed upon by the Owner and the Construction Manager and in consultation with the Architect, the Construction Manager shall prepare a Guaranteed Maximum Price proposal for the Owner’s review and acceptance. It is the intent that the Guaranteed Maximum Price in the proposal shall be established based on the Construction Documents and shall be the sum of the Construction Manager’s estimate of the Cost of the Work, including contingencies described in Section 2.2.4, the Construction Manager’s Fee, and the Construction Manager’s fixed General Conditions. If any Guaranteed Maximum Price proposal submitted to the Owner exceeds previously approved estimates or the Owner’s budget, then the Construction Manager shall make appropriate recommendations to the Owner and Architect for cost reductions, including but not limited to, substitution of materials or revisions or alterations to the Construction Documents, to bring the Project within the Owner’s budget, but shall not delete necessary components of the Project without Owner’s consent. In the event that the quality or scope identified in the proposal are unacceptable or exceed the Owner’s identified budget, the Construction Manager shall work with the Architect to develop options that are acceptable to Owner, are within the Owner’s budget, and meet the Owner’s requirements for dates of Substantial Completion and Final Completion. The Construction Manager may propose separate Guaranteed Maximum Prices for separate Works within the Project, as schedules and efficiencies dictate. The Construction Manager will work with the Architect to achieve a Guaranteed Maximum Price that is fully acceptable to Owner and is within the Owner’s budget for the Work and for the Project.

Guaranteed Maximum Price Proposal and Contract Time. § 2.2.1 At a time to be When all elements of the Construction Documents are at least 90 percent complete as mutually agreed upon by the Owner and Owner, the Construction Manager Manager, and in consultation with the Architect, the Construction Manager shall prepare a Guaranteed Guaranteed' Maximum Price proposal for the Owner’s 's review and acceptance. It is the intent that the The Guaranteed Maximum Price in the proposal shall be established based on the Construction Documents and shall be the sum of the Construction Manager’s 's estimate of the Cost of the Work, including contingencies described in Section 2.2.4, ; the Construction Manager’s Feegeneral conditions, and the Construction Manager’s fixed General Conditions's Fee. If any Guaranteed Guarantee Maximum Price proposal submitted to the Owner exceeds previously previously-approved estimates or the Owner’s 's budget, then the Construction Manager shall make appropriate recommendations to the Owner and Architect for cost reductions, including but not limited to, substitution of materials or revisions or alterations to the Construction Documents, to bring the Project within the Owner’s budget, but shall not delete necessary components of the Project project without Owner’s Board of Trustees' consent. In the event that the quality or scope identified in the proposal are unacceptable or exceed the Owner’s identified budget, the Construction Manager shall work with the Architect to develop options that are acceptable to Owner, are within the Owner’s budget, and meet the Owner’s requirements for dates of Substantial Completion and Final Completion. The Construction Manager may propose separate Guaranteed Maximum Prices for separate Works within the Project, as schedules and efficiencies dictate. The Construction Manager will work with the Architect to achieve a Guaranteed Maximum Price that this is fully acceptable to Owner and is within the Owner’s budget for the Work and for the Project.. xxx a written statement of the Conditions of the er i on 2. peci

Guaranteed Maximum Price Proposal and Contract Time. § 2.2.1 At a time to be mutually agreed upon by the Owner and the Construction Manager and in consultation with When all elements of the Construction Documents are at least 90 per cent complete, as mutually agreed upon by the Owner, the Construction Manager, and the Architect, the Construction Manager shall prepare a Guaranteed Maximum Price proposal for the Owner’s review and acceptance. It is the intent that the The Guaranteed Maximum Price in the proposal shall be established based on the Construction Documents and shall be the sum of of: the Construction Manager’s estimate of the Cost of the Work, including contingencies described in Section 2.2.4, and the Construction Manager’s Fee, . 2.2.4; the general conditions; and the Construction ManagerM anager’s fixed General ConditionsFee. If any Guaranteed Maximum Price proposal submitted to the Owner exceeds previously previously-approved estimates or the Owner’s 's budget, then the Construction Manager shall make appropriate recommendations to the Owner and Architect for cost reductions, including but not limited to, substitution of materials or revisions or alterations to the Construction Documents, to bring the Project within the Owner’s budget, but shall not delete necessary components of the Project without Owner’s consentconsent of the Superintendent of Schools or designee. In the event that the quality or scope identified in the proposal are unacceptable or exceed the Owner’s identified budget, the Construction Manager shall work with the Architect to develop options that are acceptable to Owner, are within the OwnerO wner’s budget, and meet the Owner’s requirements for dates of Substantial Completion and Final Completion. The Construction Manager may propose separate Guaranteed Maximum Prices for separate Works within the Project, as schedules and efficiencies dictate. The Construction Manager will work with the Architect to achieve a Guaranteed Maximum Price that is fully acceptable to Owner and is within the Owner’s 's budget for the Work and for the Project.

Guaranteed Maximum Price Proposal and Contract Time. § 2.2.1 At a time to be mutually agreed upon by the Owner and the Construction Manager and in consultation with When all elements of the Construction Documents are at least 90 per cent complete, as mutually agreed upon by the Owner, the Construction Manager, and the Architect, the Construction Manager shall prepare a Guaranteed Maximum Price proposal for the Owner’s review and acceptance. It is the intent that the The Guaranteed Maximum Price in the proposal shall be established based on the Construction Documents and shall be the sum of of: the Construction Manager’s estimate of the Cost of the Work, including contingencies described in Section 2.2.4, and the Construction Manager’s Fee, . 2.2.4; the general conditions; and the Construction Manager’s fixed General ConditionsFee. If any Guaranteed Maximum Price proposal submitted to the Owner exceeds previously previously-approved estimates or the Owner’s 's budget, then the Construction Manager shall make appropriate recommendations to the Owner and Architect for cost reductions, including but not limited to, substitution of materials or revisions or alterations to the Construction Documents, to bring the Project within the Owner’s budget, but shall not delete necessary components of the Project without Owner’s consentBoard of Trustees’ consent or consent of Owner’s designee. In the event that the quality or scope identified in the proposal are unacceptable or exceed the Owner’s identified budget, the Construction Manager shall work with the Architect to develop options that are acceptable to Owner, are within the Owner’s budget, and meet the Owner’s requirements for dates of Substantial Completion and Final Completion. The Construction Manager may propose separate Guaranteed Maximum Prices for separate Works within the Project, as schedules and efficiencies dictate. The Construction Manager will work with the Architect to achieve a Guaranteed Maximum Price that is fully acceptable to Owner and is within the Owner’s 's budget for the Work and for the Project.