Examples of GMP in a sentence
Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal.
The GMP Proposal shall include, without limitation, a breakdown of Design/Build Contractor’s estimated General Conditions Costs and estimated Costs of the Work organized by trade; contingency amounts; the Construction Phase Fee; and the proposed Contract Time, including dates for Notice to Proceed, Substantial Completion and Final Completion.
Frequent Project Team meetings are anticipated prior to the Owner’s acceptance of the GMP and during completion of the Construction Documents.
The GMP Proposal must be prepared in accordance with the guidelines and delivered in the format specified by Owner in the attached exhibits.
The GMP Proposal and all supporting documents shall identify and describe all items, assumptions, costs, contingencies, schedules and other matters necessary and relevant for proper execution and completion of the Work and for establishment of the Guaranteed Maximum Price.