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Guaranteed maximum price for construction contracts. A guaranteed maximum price (GMP) is a form of agreement with a contractor in which it is agreed that the contract sum will not exceed a specified maximum.
What Is a Guaranteed Maximum Price Construction Contract? pintaralbiston.com 4 order to reduce costs and keep the excess funds. Owners/developers benefit from protection from cost overruns but do not get to realize any savings. Further, unless the specifications are very clear, there is a risk to the owner that the