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A guaranteed maximum price (also known as GMP, not-to-exceed price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) such that the contractor is compensated for actual costs incurred plus a fixed fee, which is limited to a maximum price. The contractor is responsible for cost overruns greater than the ...
Current good manufacturing practices (cGMP) are those conforming to the guidelines recommended by relevant agencies. Those agencies control the authorization and licensing of the manufacture and sale of food and beverages , [ 1 ] cosmetics , [ 2 ] pharmaceutical products , [ 3 ] dietary supplements , [ 4 ] and medical devices . [ 5 ]
GMP may refer to: Finance and economics. Gross metropolitan product, a measure of goods and services produced; Guaranteed maximum price, as agreed in some contracts;
It is a key document in the GMP (Good manufacturing practice) regulated pharmaceutical industry as it drives a structured approach to validation projects. [2] Food and Drug Administration inspectors often look at VMPs during audits to see whether or not a facility's validation strategy is well thought-out and organized.
GISB—Gas Industry Standards Board (now NAESB) (US) (natural gas) GLDF—Generator to Load Distribution Factor. See Load balancing (electricity) Gm 3 —Billion cubic metres (measurement – gas) GMO—Genetically modified organism; GMP—Green Mountain Power (US) (electricity) GNP—gross national product (economics)
Obtaining construction loans are easier with this type of contract. [9] [8] The profit margins and percentages are greater for engineers and contractors. [8] [9] Payments and instalments are made on regular basis which provides the contractor with a reliable cash flow. [8] [9] Management of the contract is a lot easier for the owner. [8] [9]
A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable.
Design–build (or design/build, and abbreviated D–B or D/B accordingly), also known as alternative delivery, [1] is a project delivery system used in the construction industry. It is a method to deliver a project in which the design and construction services are contracted by a single entity known as the design–builder or design–build ...