Common use of The GMP Change Order Clause in Contracts

The GMP Change Order. The Design Professional is responsible for, or if a Program Manager is engaged, coordinates the development of a framework for negotiating the guaranteed maximum price (GMP) and, if appropriate the subsequent lump sum contract with the CM/GC. These duties include, but are not limited to: 2.2.5.1 Monitoring the GMP and/or lump sum contract on behalf of the Owner and taking appropriate actions to assure that the CM/GC maintains consistency with the terms and conditions of the contract(s). 2.2.5.2 Monitoring construction activities to assure consistency with the Program’s project and quality specifications expectations. 2.2.5.3 Maintaining an “on-site” presence and accessibility (e.g., telephone, facsimile) through a qualified representative during all construction activities to assist in clarifying design or construction issues where the Owner’s input is required, and in general, assuring the Owner that the project is well and duly constructed. 2.2.5.4 Cost accounting shall comply with GASB 34 accounting requirements.

The GMP Change Order. The Design Professional is responsible for, or if a Program Manager Manger is engaged, coordinates the development of a framework for negotiating the guaranteed maximum price (GMP) and, if appropriate the subsequent lump sum contract with the CM/GC. These duties include, but are not limited to: 2.2.5.1 Monitoring the GMP and/or lump sum contract on behalf of the Owner and taking appropriate actions to assure that the CM/GC maintains consistency with the terms and conditions of the contract(s). 2.2.5.2 Monitoring construction activities to assure consistency with the Program’s project and quality specifications expectations. 2.2.5.3 Maintaining an “on-site” presence and accessibility (e.g., telephone, facsimile) through a qualified representative during all construction activities to assist in clarifying design or construction issues where the Owner’s input is required, and in general, assuring the Owner that the project is well and duly constructed. 2.2.5.4 Cost accounting shall comply with GASB 34 accounting requirements.

The GMP Change Order. The Design Professional is responsible for, or if a Program Manager is engaged, coordinates the development of a framework for negotiating the guaranteed maximum price (GMP) and, if appropriate the subsequent lump sum contract with the CM/GC. These duties include, but are not limited to: 2.2.5.1 Monitoring the GMP and/or lump sum contract on behalf of the Owner and taking appropriate actions to assure require that the CM/GC maintains consistency with the terms and conditions of the contract(s). 2.2.5.2 Monitoring construction activities to assure require consistency with the Program’s project and quality specifications expectations. 2.2.5.3 Maintaining an “on―on-site” site‖ presence and accessibility (e.g., telephone, facsimile) through a qualified representative during all construction activities to assist in clarifying design or construction issues where the Owner’s input is required, and in general, assuring the Owner that the project is well and duly constructed. 2.2.5.4 Cost accounting shall comply with GASB 34 accounting requirements.