IGMP definition

IGMP means Initial Guaranteed Maximum Price which is the price submitted in the Price Proposal at the date and time appointed for receipt of proposals for work to be performed.

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IGMP means the initial guaranteed maximum price for the Project, which shall be an amount equal to Dollars ($ ), as more particularly set forth in the Proposal Form included in Exhibit K attached hereto.

IGMP means Industry-approved Good Management Practice as determined by the CPW discharge consent, or any updates or variations thereof.

Examples of IGMP in a sentence

• Additionally, to the extent that CM’s estimated construction costs exceed the Construction Cost Limitation (or any applicable portion thereof) or the Construction Costs Fixed Limit established by an IGMP, CM shall exercise best efforts to propose Value Engineering solutions to bring such construction costs within any applicable Limit.

• To the extent that the estimated Cost of the Work component of a GMP Proposal exceeds the Construction Costs Fixed Limit established in an agreed IGMP, the CM shall exercise best efforts (as measured by its applicable standard of care under the Contract) to propose Value Engineering solutions and other cost-cutting measures to bring such construction costs within the applicable Limit.

• With regard to each preliminary cost estimate CM is required to provide, including the pricing for the Initial Guaranteed Maximum Price (IGMP) and GMP Proposals for each Work Package as required in Section 7.4.1 below, the CM shall provide a Cost Management Report that compares Owner’s Construction Cost Limitation for the Work to CM’s estimated construction costs.

• Within sixty (60) days after the CM is furnished the Construction Documents at Design Development Phase of the entire Work or a Work Package by the A/E and with the Owner's approval thereof, the CM shall submit its Initial Guaranteed Maximum Price Proposal ("IGMP Proposal") for the entire Work or the Work Package, respectively, in such form and with such backup documentation as required for the GMP Proposal.

• After submission of each of the IGMP and the GMP Proposals for the entire Work or any Work Package, CM and Owner shall promptly meet to discuss and review the respective Proposals.

• Once an IGMP or GMP has been agreed upon and incorporated into the Contract, such GMP is subject to adjustments only as provided in the Contract Documents, including Article 11 of the General Conditions.

• Each IGMP and GMP for the Work or any Work Package shall include a Construction Contingency in the amount as expressly authorized in this Agreement.

• Except as may otherwise be agreed by the Owner and the CM, the IGMP Proposal shall include a Construction Contingency of five percent (5%) of the estimated Cost of the Work.

• Solicitation schedule should include key dates and milestones such as advertisement dates, bid openings, IGMP and GMP Proposal dates, GMP review period, proposed City Council dates and approvals and any other information relative to the CM’s procurement process.

• If the IGMP Proposal is accepted by the Owner, the estimated Cost of the Work component of the IGMP for the Work covered by such Proposal (including the Construction Contingency) shall constitute a fixed limit of the Cost of the Work covered by the Proposal (the "Construction Costs Fixed Limit").

More Definitions of IGMP

IGMP is set forth in Section 1.1 (Key Terms) and represents the maximum amount that the Authority will pay for all Work on the Project.

IGMP means Internet Group Management Protocol; (aa) "IP" means Internet Protocol;

IGMP means the initial guaranteed maximum price for the Work established pursuant to the terms of this Agreement.