Guaranteed Maximum Price

The Guaranteed Maximum Price (GMP ) is a construction contract model. It is based on the sum contract model. As for this to be provided by the general contractor performance target is agreed. The by the client to be paid for the entire project cost, however, is not a fixed price but a price ceiling. Savings - in particular subcontractor, which can be assigned more favorable than estimated - share customer and the contractor after a predetermined key. Prerequisite for GMP projects successfully succeed, is the early, partnership of construction companies and building owners.

The distribution of the contract model in practice is low, since the general contractor a full disclosure of the calculation requires in order to in the event of changes demanded by the builder to customize the default prize. The use is thus limited to cases in which the general contractor is commissioned without competition because he sits with his know-how from the beginning of planning to be at the table. The construction law lawyers, it is not yet succeeded in presenting draft contracts that are feasible even without deeper trust between owner and general contractor.

Examples of projects

• Westfalen Stadium, Dortmund
• Terminal B, Leipzig / Halle Airport