Examples of Maximum Price in a sentence
No payment made hereunder shall be or be construed to be final acceptance or approval of that portion of the Work to which such partial payment relates or shall relieve Contractor of any of its obligations hereunder.E.2.9 Contractor shall submit its initial MWESB Report within ten(10) Days of Contractor’s execution of the Contract, or if there will be a Guaranteed Maximum Price (GMP) Amendment, then within ten (10) Days of Contractor’s execution of the GMP Amendment.
If bids received exceed contracted Guaranteed Maximum Price, CM (or D-B) advises City as to how they will proceed.
The CMAR will assume the risk of delivering the project through a Guaranteed Maximum Price (GMP) contract.
The Contract Documents are enumerated in the Agreement between the Owner and CMAR contractor at Risk contractor (CMAR contractor) as a Constructor (Part A: Pre-Construction Services and Part B: Construction Services) where the basis of payment is the Cost of the Work plus a Fee with a Guaranteed Maximum Price (GMP), AIA Document A133-2009 as modified by Owner (hereinafter referred to as the Agreement).
The general contractor is responsible for completing the particular project for a fixed price; (ii) a construction manager hired by the State to provide professional services and act as a consultant to the State in the design development and construction phases and to deliver the particular project for a Guaranteed Maximum Price; or (iii) a design-build contractor hired by the State to provide both design and construction services, under a single contract, for a particular project.