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Why You Should Not Sign a GMP Contract

GMP Contract

If you do not add a provision to any contract you sign that allows you to recover any increase in material costs or extra time for any material shortage, you are basically signing a GMP contract. A GMP contract shifts the risk of increased material costs and an extended completion date onto the contractor. Signing a GMP contract right now would be very dangerous for your company because you would have to eat any increased costs.