Question

Under a Guaranteed Maximum Price(GMP) contract, what happens if the actual cost of the project is less than the guaranteed maximum price? a) The owner benefits from the savings unless

there is an arrangement to split the savings with the contractor. b) The construction firm benefits from the savings unless there is an arrangement to split the savings with the contractor. c) The construction manager benefits from the savings unless there is an arrangement to split the savings with the contractor. d) The design firm benefits from the savings unless there is an arrangement to split the savings with the contractor. e)The sub-contractors benefit from the savings unless there is an arrangement to split the savings with the contractor.

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