Cost-plus agreement with GMP

 

Question

 

Does the AIA publish a "cost-plus" agreement between Owner and Contractor, where the Contractor is paid for the cost of the work (time and materials) plus a fee, up to a Guaranteed Maximum Price (GMP)?

 

Answer

 

Yes. Those agreements include the following:

 

A102™–2007 (formerly A111™–1997), Standard Form of Agreement Between Owner and Contractor Where the Basis for Payment Is the Cost of the Work Plus a Fee with a Negotiated Guaranteed Maximum Price; and

 

A107™–2007 (formerly A107™–1997), Standard Form of Agreement Between Owner and Contractor for a Project of Limited Scope and Exhibit A, Determination of the Cost of the Work, included with this Document.

 

In addition, the following may be used where the Contractor is also serving as Construction Manager:

 

A133™–2009 (formerly A121™CMc–2003), Standard Form of Agreement Between Owner and Construction Manager as Constructor where the basis of payment is the Cost of the Work with a Guaranteed Maximum Price.

 

 

 

 

AIA Version:

AIA Contract Documents Software - all versions

Platform:

All

Last Updated:

2014-07-28

Number:

507

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