When To Use
Use G742GMP™ when a design-builder on a cost-of-the-work project with a Guaranteed Maximum Price needs to apply for a progress payment. This document is suitable for any size project.
What It Does
G742GMP provides the design-builder's payment application and owner certification for cost-of-the-work design-build projects with a Guaranteed Maximum Price. It shows actual costs incurred against the established GMP. It provides design-builders with a payment application tailored to the GMP model, presenting costs against the established maximum to enable efficient owner certification.
Additional Information
It is commonly referred to as an AIA billing form, progress billing form, or pay app.
