AL General Contractor Practice Questions - Alabama General Contractor Exam

What does 'GMP' stand for in a construction contract, and what does it mean?

General Management Plan — a safety document Guaranteed Maximum Price — the maximum amount the owner will pay for the project Gross Material Purchase — the total material cost Government Mandated Pricing — pricing set by the state

Correct Answer:

Guaranteed Maximum Price — the maximum amount the owner will pay for the project

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