Description
A Guaranteed Maximum Price (GMP) Contract protects the project owner by capping the maximum cost of construction. If actual costs are lower, savings may be shared between the contractor and owner. The contractor bears the financial risk of overruns beyond the agreed cap. The contract includes detailed cost breakdowns, contingency funds, and incentives for cost-saving measures. GMP contracts are ideal for large-scale projects where cost control is crucial. They balance flexibility and financial predictability, making them attractive for public infrastructure and commercial developments.
Adejoke –
“I am so impressed with this Guaranteed Maximum Price (GMP) Contract document! It makes the process of negotiating construction contracts much more transparent and straightforward. The template is well-written and easy to use, and it covers all the essential terms and conditions. I highly recommend this document to any business owner or contractor who is looking to enter into a GMP contract.”
Aina –
“I was really impressed with the “Guaranteed Maximum Price (GMP) Contract” document. It was well-written and easy to understand, and it provided me with all the information I needed to make an informed decision. I also appreciated the fact that the document was legally binding, which gave me peace of mind knowing that I was protected. Overall, I would highly recommend this document to anyone who is looking for a reliable and affordable way to get legal contracts.”
Mohammad –
“This Guaranteed Maximum Price (GMP) Contract has been an invaluable asset to our business. The clear and concise language made it easy to understand and implement, ensuring that both parties were aware of their responsibilities and expectations. The comprehensive coverage provided a solid foundation for our project, giving us peace of mind knowing that we had a legally binding agreement in place. The contract’s effectiveness in safeguarding our interests and streamlining the project’s execution has been exceptional.”