Examples of GMP Agreement in a sentence
The contract format will be an Actual Cost plus a Fixed Fee not to exceed the Guaranteed Maximum Price (GMP) Agreement.
In the event Owner and Design-Builder do not successfully finalize the GMP Exhibit and execute a GMP Agreement for this project, this Agreement will be terminated and Design-Builder will be paid the value of its services to the date of termination, not to exceed the Contract Price, and will not be entitled to any other compensation, damages, loss of profits or payment of any other kind.
In entering into this Agreement, Owner and Design-Builder recognize that they may not be able to finalize the GMP Exhibit and execute a GMP Agreement for this Project.
The contract format will be an Actual Cost plus a Fixed or percentage Fee not to exceed the Guaranteed Maximum Price (GMP) Agreement.
The provisions of this Article alter the preceding Articles or enlarge upon them as indicated (The General Conditions of the Design/Build Guaranteed Maximum Price (GMP) Agreement SC-9.1): The Principal Representative and or the State Buildings Program shall mark boxes and initial where applicable.