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2019 Contract Documents Eligible for Reprinting 01/03/2019 Document No. Document DescriptionSuggested Retail PriceA1012017Standard Form of Agreement Between Owner and Contractor where the basis of
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How to fill out a guaranteed maximum price
How to fill out a guaranteed maximum price
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To fill out a guaranteed maximum price, follow these steps:
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What is a guaranteed maximum price?
A guaranteed maximum price is the highest amount a contractor will charge for a project, with any costs above that being covered by the contractor.
Who is required to file a guaranteed maximum price?
Contractors or construction companies are required to file a guaranteed maximum price for a project.
How to fill out a guaranteed maximum price?
To fill out a guaranteed maximum price, the contractor must detail all costs associated with the project and set a maximum price to be charged.
What is the purpose of a guaranteed maximum price?
The purpose of a guaranteed maximum price is to provide clarity and predictability in project costs for both the contractor and the client.
What information must be reported on a guaranteed maximum price?
A guaranteed maximum price must include a breakdown of all costs, including labor, materials, and any additional fees.
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