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The agreement will be made with the Board of Trustees, the state, and the construction manager chosen for the project. The contract will provide full details about the project and totals of the direct construction cost and the Guaranteed Maximum price. The construction manager will provide and agree to the actual direct construction cost and the guaranteed maximum price including any contingencies including the site management fee, overhead and profit. The percentage agreed to for the DVBE subcontractors and the amount of the fine to be paid back to the Trustees in the event of a delay or liquidated damages must also be noted. Any Guaranteed Maximum Price clarifications should be listed.

The agreement with the full details about the project, construction manager, and sum totals will be signed by the contractor, trustees, facility planner, the budget officer, and General Counsel. The contract will also include the payment bond and the performance bond guaranteeing that the contractor faithfully performs the agreed upon project construction. Certification of all pages of the agreement will also be included.

Industry: Construction, Repair & Improvement General Construction

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