A maximum cost set from the start to facilitate project financing
By choosing the Guaranteed Maximum Price (GMP) construction procedure set up by Cosoltec, you will have greater control of your project’s costs. In the preliminary phase, Cosoltec establishes a budget based on the plans and design documents provided by the work originator, with the maximum pre-set cost. If unforeseen expenses occur, thereby exceeding the established budget, Cosoltec undertakes not to exceed the maximum price as stipulated in the contract. As the mandate for Guaranteed Maximum Price construction is generally associated with a cost-plus contract, the contractor ensures that its overhead and profit margin are refunded on the basis of this co-relation.
The solution to quickly start work and meet deadlines
Cosoltec is fully aware that the respect of deadlines is an essential element in a project’s success. This is why the company has a team of experienced and seasoned estimators to provide targeted expertise for GMP mandates.
As a work originator, you will have access to a GMP contract formula to begin your work even before the contract documents have been completed. In addition, as Guaranteed Maximum Price construction is an ‘open book’, you will have better control of costs and will be able to make changes at the finalization of the design phase.
As a result of its building expertise, Cosoltec also performs value engineering work. This will allow you to see substantial savings during the design phase.
The advantages of Guaranteed Maximum Price construction
- Fixed maximum price starting at the project design stage;
- Obtaining a streamlined and expedited approach to project financing;
- Expenditure control;
- Accelerated work starts and respected deadlines.