Guaranteed maximum cost


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Guaranteed maximum cost

The amount established in an agreement between owner and contractor as the maximum cost for performing specified work on the basis of the cost of labor and materials plus overhead expenses and profit.

guaranteed maximum cost

An amount established in an agreement between owner and contractor as the maximum cost of performing specified work on the basis of cost of labor and materials plus overhead expense and profit.
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The MPEA is currently inviting design/build teams to submit statements of qualifications and guaranteed maximum cost proposals for the McCormick Place West Expansion project.

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