The Guaranteed Maximum Price Sample Clauses
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The Guaranteed Maximum Price. The sum of the Cost of the Work and the CM/GC’s fee is guaranteed by the CM/GC not to exceed [ ] dollars ($[ ]), subject to additions and deductions by Change Order as provided in the Contract Documents.
A. The Guaranteed Maximum Price is based on the following alternates, if any, which are described in the Contract Documents and are hereby accepted by the Owner: (State the numbers or other identification of accepted alternates. If the Owner is permitted to accept other alternates subsequent to the execution of this Amendment, attach a schedule of such other alternates showing the change in the Guaranteed Maximum Price for each and the deadline by which the alternate must be accepted.)
B. Unit Prices, if any: (Identify item, state the unit price, and state any applicable quantity limitations.) Item Units and Limitations Price per Unit ($0.00)
C. Assumptions, if any, on which the Guaranteed Maximum Price is based: (Identify any assumptions.)
D. Allowances, if any, included in the Guaranteed Maximum Price: (Identify any allowances, including a description of the allowance and corresponding amount.)
E. Notwithstanding any other provision in the Contract Documents, CM/GC represents that the Guaranteed Maximum Price and the time to achieve Substantial Completion and Final Completion take into account the current conditions of the COVID-19 (and any variant thereof) pandemic as of the date the CM/GC executes this Amendment, and that CM/GC shall not be entitled to adjustment in the Contract Time or the Guaranteed Maximum Price absent demonstrated proof of a change in the COVID-19 circumstances. This paragraph shall provide the CM/GC’s sole remedy for impacts related to the COVID-19 (or any variant thereof) pandemic.
F. The Drawings, Specifications, and Addenda are described in Attachment 1 hereto.
G. The Owner and CM/GC’s agreement with respect to “Potentially Time and Price-Impacted Materials” is Attachment 2 hereto.
The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP of Dollars ($ ). Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents. (While the Contract Price Amendment will be developed in advance or concurrently with the execution of this Agreement, it is recommended that such exhibit include the items set forth in Section
The Guaranteed Maximum Price. (GMP). A GMP will be established in accordance with Section 3, Part 3 of the General Requirements. The GMP may be replaced by a Lump Sum Price as set forth in Article 3.3.7 of the General Requirements.
The Guaranteed Maximum Price. (GMP) AMENDMENT
The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP to be defined and established in the Phase 2 Amendment to this Agreement. Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents.
The Guaranteed Maximum Price. (guaranteeing the maximum price to the Owner for the Cost of the Project and the Construction Manager's Fee) is RM33,500,000. Such Guaranteed Maximum Price will be subject to modification for Changes in the Project as provided in Article 9, and for additional reasonable costs directly arising from delays caused by the Owner. The Guaranteed Maximum Price is made up of the following: Hard Construction Cost - RM30,000,000.00, Soft Construction Cost - RM1,896,000.00, and Construction Manager's Fee - RM1,610,000.00 for a total of RM33,500,000.00.
The Guaranteed Maximum Price. Established Upon Execution of this Agreement for Performance of the Project.
.1 The sums outlined in 8.5.1 a-d, below includes the Estimated Cost of the Work, any agreed contingency for the Cost of the Work, and the agreed Design- Builder Fees. Except for any items established in this Agreement as fixed lump sums, Design-Builder does not guarantee any specific line item provided as part of the GMP, except such items which are established by the Owner as fixed lump sums, but agrees that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents. Documents used as a basis for the GMP shall be identified in an exhibit to the Agreement (“GMP Exhibit A”).
.a Design-Builder guarantees for Highland View Pool that it shall not exceed the GMP of five million two hundred seventy-seven thousand eight hundred seventy-eight and 00/100 dollars ($5,277,878.00).
.b Design-Builder guarantees for Stonegate Pool that it shall not exceed the GMP of three million eight hundred three thousand nine hundred twenty-eight and 00/100 dollars ($3,803,928.00).
.c Design-Builder guarantees for Tomahawk Ridge Aquatic Center Slides that it shall not exceed the GMP of three hundred thirty thousand three hundred eighty-two and 00/100 dollars ($330,382.00).
.d Design-Builder guarantees for ▇▇▇▇▇ and Tomahawk Ridge Aquatic Center Pools Backwash that it shall not exceed the GMP of one hundred thirty-three thousand nine hundred ninety-four and 00/100 dollars ($133,994.00).
.2 The contingency sums outlined in 8.5.2 a-d, below are available for Design- Builder’s exclusive use for costs that are typically incurred in performing the work that are not specifically known at this time and are not included in any specific line item or authorized as a change under the Contract Documents. Such costs may include, but are not limited to, cost estimate variances or unforeseen changes in market pricing, quantity of work increases in the project based on design development that are not changes in scope, subcontractor or supplier nonperformance, and unforeseen site conditions that are not the Design-Builder responsibility. The Cost of Work Contingency is not available to Owner for any reason. Design-Builder shall provide Owner with notice of all anticipated charges against the Cost of Work Contingency. If such Contingency is not fully utilized during the course of the Project any residual amount is considered as savings in the...
The Guaranteed Maximum Price. 4.1 The Owner, Architect, and Construction Manager shall discuss and reach an agreement as to the extent and degree of completion of final construction drawings and specifications required in order for the Construction Manager to establish and provide a Guaranteed Maximum Price (“GMP”). Within thirty (30) days after receipt from the Architect of final construction drawings and specifications, the Construction Manager shall submit in writing to the Owner and the Architect a Guaranteed Maximum Price for complete construction of the Project in accordance with such drawings and specifications. Said Guaranteed Maximum Price shall include the following: (a) The cost of all labor, equipment, material and supplies necessary for, or utilized in, construction of the Project whether performed or furnished by the Construction Manager, the Trade Contractors, vendors, suppliers or others; (b) the General Conditions costs as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner; and, (c) the Construction Manager’s fee as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner. It is the intent of this provision that the Guaranteed Maximum Price shall include the complete and total cost of constructing the Project in accordance with all requirements of the Contract Documents.
4.2 Within fourteen (14) days after receipt from the Construction Manager of the Guaranteed Maximum Price, the Owner may reject same and may, in its discretion, terminate this Agreement for convenience. Notwithstanding any other provision of this Agreement, in the event of such termination, the Owner shall pay the Construction Manager the lump sum of $25,000.00 which shall constitute the full and complete compensation due Construction Manager of every kind and nature, for work performed, or expenses incurred, prior to such termination.
4.3 Absent rejection of the Guaranteed Maximum Price by the Owner within the time set forth in Paragraph 4.2 hereinabove, the Guaranteed Maximum Price shall constitute an agreement by the Construction Manager to construct the Project in strict accordance with all requirements of the Contract Documents for a sum not to exceed the Guaranteed Maximum Price, and the Contract Price as set forth in Article 5 herein below shall not exceed such Guaranteed Maximum Price.
The Guaranteed Maximum Price