In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor.

Name: In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor.
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Quizplus · Accepted Answer

In a Guaranteed Maximum Price (GMP) contract, any costs exceeding the agreed-upon maximum price are typically the responsibility of the contractor, not the client, unless otherwise specified in the contract for conditions such as changes in scope initiated by the client.

In a Guaranteed Maximum Price (GMP) Contract, Costs Above the GMP