A GMP caps what the owner pays; the contractor absorbs overruns unless a contractual change basis applies. What matters is what is referenced in the documents at amendment, and whether coordination gaps survive into that package.
Savings treatment (owner vs shared) and contingency handling are contract-specific. Overruns above the ceiling sit with the contractor unless an approved change adjusts scope, time, or price.
Direct costs, general conditions, fee, and contingencies roll into the cap. CMAR typically executes preconstruction services first, then a GMP amendment when drawings support reliable pricing.
Verify structural/MEP coordination, spec-to-drawing alignment, sheet completeness, and index accuracy before the amendment locks risk. Run a constructability / plan check style pass to reduce unknowns. See pre-GMP review and audiences on contractors / owners & developers.
Ceiling + shared risk mechanics vs fixed price at complete documents.
Only through contractually valid changes, not silent coverage of bid misses.
Guaranteed Maximum Price ceiling.
Document fixing the cap and incorporating the drawing set by reference.
The amendment ties dollars to that document snapshot.
