Guaranteed Maximum Price Proposal definition

Guaranteed Maximum Price Proposal means the Construction Manager’s written proposal of a Guaranteed Maximum Price, to be submitted by Construction Manager for all Work associated with one or more Design Packages, in the form of Exhibit 18 to this Agreement.
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Guaranteed Maximum Price Proposal or “GMP Proposal” means the proposal submitted by Design-Build Contractor to the City Engineer, the requirements of which are set forth in Article 6 of this Agreement.
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Examples of Guaranteed Maximum Price Proposal in a sentence

  • Contractor’s investigation will be instrumental in preparing its Guaranteed Maximum Price Proposal for the Work.

  • The Construction Phase shall be deemed to commence upon the date specified in a written Notice to Proceed issued by Owner after approval of the Guaranteed Maximum Price Proposal and shall continue until Final Completion of all Work.

  • These items shall be included in the General Conditions Cost amount shown as a line item in the Guaranteed Maximum Price Proposal and as detailed on the Schedule of Values.

  • Contractor’s participation in the design development process will be instrumental in preparing its Guaranteed Maximum Price Proposal for the Work.

  • Before submitting its Guaranteed Maximum Price Proposal, the Contractor shall review the drawings, specifications and other Construction Documents and notify Owner of any errors, omissions or discrepancies in the documents of which it is aware.

  • Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

  • These items shall be included in the General Conditions cost amount shown as a line item in the Guaranteed Maximum Price Proposal and as detailed on the schedule of values.

  • The Construction Phase shall be deemed to commence upon the date specified in a Notice to Proceed issued by Owner after approval of the Guaranteed Maximum Price Proposal and shall continue until Final Completion of all Work.

  • Reconciled Construction Cost Estimates shall be prepared at the conclusion of the Schematic Design Phase, at the conclusion of the Design Development Phase, when Construction Documents are approximately 50% complete and prior to the submission of the Guaranteed Maximum Price Proposal.

  • Construction Manager shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to the Owner.

Related to Guaranteed Maximum Price Proposal

  • Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

  • Maximum Price means an amount (excluding related brokerage, commission, applicable goods and services tax, stamp duties, clearance fees and other related expenses) which may be paid for an ordinary share purchased or acquired by us pursuant to the mandate contained in paragraph (a) above, not exceeding, in the case of a market purchase of an ordinary share, the highest independent bid or the last independent transaction price, whichever is higher, of our ordinary shares quoted or reported on the NASDAQ Global Select Market or the securities exchange operated by JSE Limited (the “JSE”), as the case may be, or shall not exceed any volume weighted average price, or other price determined under any pricing mechanism, in compliance with the requirements under Rule 10b-18 under the Exchange Act, at the time the purchase is effected; and

  • Minimum Price shall have the meaning specified in Section 7.1(d).

  • Price Proposal means the price offer included in the Proposal submitted by a Proposer as set forth on the forms requested in Exhibit C-2 of the ITP.

  • Unit Price Work means Work or a portion of the Work paid for based on incremental units of measurement.