GMP Proposals Clause Samples
The GMP Proposals clause defines the process by which a contractor submits a Guaranteed Maximum Price (GMP) proposal for a construction project. Typically, this clause outlines the required contents of the proposal, such as detailed cost breakdowns, allowances, contingencies, and supporting documentation, as well as the timeline and procedures for submission and review. By establishing clear expectations and a structured process for presenting and evaluating the GMP, this clause helps ensure transparency in pricing and provides a basis for cost control and risk allocation between the parties.
GMP Proposals. At the appropriate time(s) during Preconstruction Services, considering the progression of the design and the Project delivery schedule, Construction Manager will prepare and submit for the Owner’s consideration a guaranteed maximum price proposal (a “GMP Proposal”). GMP Proposals must include (a) a listing of the applicable Drawings, Specifications, and Addenda, (b) the proposed guaranteed maximum price and the proposed Schedule of Values required in accordance with Section 9.2 of the General Conditions, (c) the subcontractor bidding information required in accordance with Section 5.2.2 of the General Conditions, (d) the proposed rental equipment and staffing schedules required in accordance with Sections 16.3.3.1 and 16.4.5 of the General Conditions, (e) the proposed construction schedule in accordance with Section 3.10.1 of the General Conditions, (f) a list of the clarifications and assumptions upon which the guaranteed maximum price is based, and (g) a proposed GMP Amendment, the general form of which is attached hereto as Exhibit C. If the Project is delivered in phases or components, Construction Manager shall submit separate GMP Proposals for each phase or component and each of the items in the proposal must be specific to the applicable phase or component.
GMP Proposals. If requested by Owner, ▇▇▇▇ shall submit GMP Proposals to Owner which shall include the following, unless the parties mutually agree otherwise:
6.6.1.1.1 A proposed GMP, which shall be the sum of:
▇. ▇▇▇▇’▇ Fee as defined in Section 6.2.1 herein;
ii. The estimated Cost of the Work as defined in Section 6.3 herein, inclusive of any ▇▇▇▇’▇ Contingency as defined in Section 6.6.1.1.9 below; and
iii. If applicable, any Allowance Value established under Section 6.4 herein.
6.6.1.1.2 A list of the assumptions and clarifications made by ▇▇▇▇ in the preparation of the GMP Proposal;
6.6.1.1.3 The Scheduled Interim Milestone Date upon which the proposed GMP is based, to the extent said date has not already been established under Section 5.2 herein, and a schedule upon which the Scheduled Interim Milestone Date is based;
6.6.1.1.4 If applicable, a list of Allowance Items, Allowance Values, and a statement of their basis;
6.6.1.1.5 If applicable, a schedule of alternate prices;
6.6.1.1.6 If applicable, a schedule of unit prices;
6.6.1.1.7 If applicable, a statement of Additional Services which may be performed but which are not included in the GMP and which, if performed, shall be the basis for an increase in the GMP and/or Contract Time(s); and
6.6.1.1.8 The time limit for acceptance of the GMP Proposal.
6.6.1.1.9 The GMP shall include a Contingency in an amount agreed to in writing between the Owner and ▇▇▇▇ which is available for ▇▇▇▇’▇ exclusive use for
GMP Proposals. Based upon the information, analysis, findings, and reports developed during the Preconstruction Phase, at sixty (60%) completion of Construction Documents. CM shall submit its GMP Proposals (“GMP Proposals”) on a Request for Proposal form as required herein, and supplemented as necessary, as follows:
GMP Proposals. Based upon the information, analysis, findings, and reports developed during the Preconstruction Phase, at sixty (60%) completion of Construction Documents.