Common use of GMP Proposal Clause in Contracts

GMP Proposal. Each GMP shall be provided by the CM when requested by the Owner, but in general not before one hundred percent (100%) of construction documents with respect to the relevant division of the Project are released by the Designer for permitting and bidding, and no later than thirty (30) calendar days after receipt of all Contractor bids with respect to the relevant division of the Project. The Owner shall accept such GMP or negotiate and reach agreement with the CM on a different GMP within thirty (30) calendar days of the date of the receipt unless such time is mutually agreed to be extended. If the Owner does not accept a GMP within the time period herein provided, such price shall be presumed to be rejected by the Owner.

GMP Proposal. Each GMP shall be provided by the CM when requested by the Owner, but in general not before one hundred percent (100%) of construction documents with respect to the relevant division of the each School Project are released by the Designer for permitting and bidding, and no later than thirty (30) calendar days after receipt of all Contractor bids with respect to the relevant division of the each School Project. The Owner shall accept such GMP or negotiate and reach agreement with the CM on a different GMP within thirty (30) calendar days of the date of the receipt unless such time is mutually agreed to be extended. If the Owner does not accept a GMP within the time period herein provided, such price shall be presumed to be rejected by the Owner.