GMP Basis Documents Sample Clauses

The 'GMP Basis Documents' clause defines the set of documents that establish the agreed-upon scope, quality standards, and pricing assumptions for a Guaranteed Maximum Price (GMP) contract. These documents typically include drawings, specifications, schedules, and any other materials referenced in the contract that outline the project's requirements and constraints. By clearly identifying which documents form the basis for the GMP, this clause ensures that both parties have a mutual understanding of the project's parameters, thereby reducing the risk of disputes over scope or cost changes during the course of the work.
GMP Basis Documents which shall include a list of the Drawings and Specifications, including all addenda thereto, and General, Supplementary and other Conditions which were used in preparation of the GMP Proposal and on which the GMP is based.
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