Stipulated (lump) sum vs Guaranteed maximum price (GMP)


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    Rebekka O'Melia

    The difference is the stipulated sum is what you'd pay, no matter what the contractor's actual cost is.  The GMP means that if the contractor's actual cost is LESS than the GMP, the owner would save the difference.

    Hope this helps!

    Rebekka O'Melia, B.Arch, M. Ed, Registered Architect, NCARB, Step UP ARE 5.0

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