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The Construction Audit & Cost Control Institute Shares Ten Things to Consider When Contracting with MEP's on a GMP Basis
Date:3/30/2013

terial costs.

5. Proposed “Equipment Rental Rates” on equipment owned by the Subcontractor may be 20% to 50% more than actual competitive third -party equipment rental rates for comparable equipment.

6. The GMP subcontractor may end up charging 2 or 3 times the fair market value (FMV) of a piece of subcontractor owned rental equipment unless the contract establishes a limit on “aggregate” bare rental charges. Note: If you plan to let the subcontractor keep the equipment after the job is over, consider establishing a cap on aggregate rental charges as a percentage of the FMV of the piece of equipment at the time it was brought to the job.

7. Proposed “shop burden markups” on shop-fabricated material or assemblies to be delivered to the job for installation may be higher than actual allowable and allocable overhead costs. Hidden profit in these markups may significantly offset the actual labor savings gained by not assembling work in the field.

8. Proposed charges for subcontractor “post-contract warranty” costs” may range from .5% to 1% of the GMP.

Note: Many owner’s draft contracts that state “warranty costs” are considered covered by the MEP subcontractor’s FEE rather than being allowed as a direct reimbursable “Cost of Work”.

9. Avoid the use of proposed lump sums for miscellaneous portions of scope of work to be performed by the GMP subcontractor. For example, avoid the use of paying proposed lump sum amounts for scope of work such as pre-construction design assist services and/or general conditions. By comingling lump sum and GMP work, the owner is taking a risk that costs attributable to the lump sum can be shifted to the Cost of Work billings effectively charging twice for the same costs.

10. Proposed use of related party sub-subcontractors using lump sum subcontracts arrangements rather than GMP sub-subcontract arrangements can result in hidden excessive profits by 10% to 50% due to a possible lack of me
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