GMP Schedule definition
Examples of GMP Schedule in a sentence
A complete line-item breakdown of the calculations used to establish a lump sum amount based on the GMP Schedule of Values.
GMP Schedule The detailed list of items of work with associated quantities, prices, and type of cost, submitted with each GMP.
GMP Guaranteed Maximum Price GMP Item An item of work or task listed in the GMP Schedule including the description, quantity (where applicable), and unit cost.
In the event a contract modification necessitates a change in a GMP Schedule, such schedule and any associated costs shall be changed by a reasonable amount.
GMP Item An item of work or task listed in the GMP Schedule including the description, quantity (where applicable), and unit cost.
Upon being advised of any proposed contract modification, the ▇▇▇▇ shall submit to the Owner the estimated cost of, or savings attributable to, such contract modification, the estimated impact thereof on the GMP Schedule and a detailed statement regarding entitlement.
The Contract Documents consist of the Agreement between Owner and Construction Manager (hereinafter the Agreement), Conditions of the Contract (General, Supplementary and other Conditions), GMP Schedule of Values, Drawings, Specifications, Addenda issued prior to execution of the Contract, OCIP Manuals, other documents listed in the Agreement and Modifications issued after execution of the Contract.
There are no line item costs identified as allowances in the GMP Schedule ("Allowance Item").
Unless the GMP Schedule conspicuously designates a line item as a “contingency,” the GMP does not include any contingency amount of any kind or nature.
Any line item identified in the GMP Schedule as a contingency ("Contingency") belongs solely to City, and may not be drawn upon or reallocated by ▇▇▇▇ without City and Project Coordinator’s prior written approval.