![What Does GMP Stand For in Construction?](https://www.profitdig.com/wp-content/w3-webp/uploads/2022/01/profitdig-quick-construction-bidding.jpgw3.webp)
![What Does GMP Stand For in Construction?](https://www.profitdig.com/wp-content/w3-webp/uploads/2022/01/profitdig-quick-construction-bidding.jpgw3.webp)
![4 Benefits of a Guaranteed Maximum Price (GMP) Contract](https://www.profitdig.com/wp-content/w3-webp/uploads/2021/10/Article-ContractNegotiations-1080x675.jpgw3.webp)
4 Benefits of a Guaranteed Maximum Price (GMP) Contract
A Guaranteed Maximum Price (GMP) contract is a popular form of agreement used in construction projects to establish a cap on the total project cost. Under a GMP contract, the contractor assumes the responsibility for completing the project within the agreed-upon...![GMP Construction Contracts – Should They Be Avoided by New Contractors?](https://www.profitdig.com/wp-content/w3-webp/uploads/2023/02/gmp-contracts-1080x675.jpgw3.webp)