Consider a construction project for which the target estimate is $10,000,000. The contract is a guaranteed maximum price contract (GMP including fee = $11,000,000). Calculate the owner’s payment and the contractor’s earnings if the contract’s actual costs (excluding fee) is $11,500,000? Assume that this cost includes change orders worth $250,000. According to the contract, the change orders will be in addition to negotiated GMP but the contractor will not be compensated for the first $150,000 of change orders.
Consider a construction project for which the target estimate is $10,000,000. The contract is a guaranteed...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...