What is the difference between fixed price and GMP?
A GMP contract differs from a fixed-price contract, such as a lump sum contract, in that, for the latter, the price remains the same no matter how much a contractor spends to complete the project. GMP contracts are more flexible—the property owner will reimburse the contractor for expenses up to the maximum.
How does a GMP work?
A standard form contract is one with a set of largely standardised, pre-written terms and conditions. In consumer contracts, these terms and conditions are often set and not open to negotiation.
What is an Australian standards contract?
Under an alliance contract, the Owner and the Non Owner Participants. (NOPs) work together to collaboratively determine the best project solution and. deliver the project.
[PDF] Cost-Plus Guaranteed Maximum Price Contracts Clifford Chance
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[PDF] Federal Agency Use of Design-Build with Guaranteed Maximum Price
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[PDF] Construction Manager-At-Risk (CMR) For Guaranteed Maximum Price
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