Expert Witness Blog
In Guaranteed Maximum Contracts construction expert witness Paul Gogulski explains the the G-Max contract:
Still another advantage of G-Max occurs when work must start ahead of final drawings. There are often issues that delay completion of the drawings and therefore start of construction. The G-Max format allows owners to minimize risk when proceeding with work ahead of final drawings. It has been my experience to start work on 30 percent completed drawings while obtaining a G-Max price for the entire project based on preliminary drawings and outline specifications. That’s an extreme example, but it does happen.