GMP Change Order Clause Samples
A GMP Change Order clause defines the process for modifying the Guaranteed Maximum Price (GMP) in a construction contract. It outlines how changes to the scope of work, unforeseen conditions, or client requests are formally documented and approved, typically requiring written agreement from both parties before any adjustments to the contract price or schedule are made. This clause ensures that all changes affecting cost or timeline are transparently managed and agreed upon, preventing disputes and maintaining budgetary control throughout the project.
GMP Change Order is the Change Order establishing the GMP and authorizing Design-Builder to commence construction of the Work as indicated in the Contract Documents. The GMP Change Order shall be executed in a form issued by the ADR which will be substantially similar to that supplied as Supplement B1. Unless otherwise expressly stated in the GMP Change Order, all prior Component Change Orders (and their related Component Change Order Documents, as amended) are merged into the GMP Change Order. Preconstruction Services conclude upon ▇▇▇▇’s execution of the GMP Change Order.
GMP Change Order. 3.3.1 Guaranteed Maximum Price.
GMP Change Order. 3.3.1 Guaranteed Maximum Price Change Order.
3.3.2 GMP Proposal Review Meeting
3.3.3 Acceptance or Rejection of GMP Change Order.
GMP Change Order. In the case of the GMP Change Order, payment and performance bonds furnished by the Construction Manager and in conformance with and in the form set forth in Contract Documents, in the amount of the Guaranteed Maximum Price (as defined in Subparagraph 4.1.3.2.1), designating Construction Manager as the principal obligor and the Owner as the obligee. If in connection with a Component Change Order preceding the GMP Change Order, Construction Manager has furnished payment and performance bonds covering the Work under Component Change Orders and under the GMP Change Order and such bonds are in an amount not less than the Guaranteed Maximum Price, no additional payment or performance bonds shall be required. However, Owner may require written confirmation of the surety that the outstanding bonds cover the Work under the GMP Change Order. No election or failure of the Owner to request such confirmation shall affect the rights of Owner or others under the existing bonds covering such Work.
GMP Change Order. This contract amendment (the “GMP Change Order”) is dated , and amends the AIA Document A133-2009 dated , (collectively, the “Contract”) between Home Forward, (“Owner”), and (“Contractor”).
GMP Change Order. Ten percent of Design Fee (10%) and Ten percent (10%) of Pre-Construction Sum Construction Contract Administration Services Fee Payment Schedule. Payments for the Design Professional’s Construction Contract Administration shall be made in equal monthly payments during the Construction Phase and shall be calculated by dividing 95% of the Construction Contract Administration Fee by the total number of months in the Construction Schedule. The remaining 5% of the Construction Contract Administration Fee shall be paid after the Design Professional has issued the Certificate of Material Completion and provided the Record Documents.