Common use of Basis of Guaranteed Maximum Price Clause in Contracts

Basis of Guaranteed Maximum Price. The Construction Manager shall include with the GMP Proposal a written statement of its basis, which shall include: 2.1.11.1. The proposed Guaranteed Maximum Price, including a statement of the estimated cost organized by trade categories, allowances, contingency, and other items and the fee that comprise the Guaranteed Maximum Price. 2.1.11.2. A list of the Drawings and Specifications, including all addenda thereto and the General Conditions, which were used in preparation of the GMP Proposal. 2.1.11.3. A list of allowances and a statement of their basis. 2.1.11.4. A list of the clarifications and assumptions made by the Construction Manager in the preparation of the GMP Proposal to supplement the information contained in the Drawings and Specifications. 2.1.11.5. The Date of Substantial Completion upon which the proposed Guaranteed Maximum Price is based, and a schedule of the Construction Documents issuance dates upon which the date of Substantial Completion is based.