Guaranteed Maximum Price
Policies & Procedures for New Construction, Renovation and Capital Maintenance Projects
- Review contract for contingency percentage and determine that portion used, if any, was reasonable.
- Determine that unused portion of contingency percentage was returned to the owner.
- Review calculation of GMP to determine if there were any savings realized. Determine that savings were calculated properly and split in accordance with contract.
- Determine that bonding was obtained in accordance with contract.