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GMP Contracts and Amendments — FAQs

Common questions about creating, amending, and executing Guaranteed Maximum Price (GMP) contracts.

Written by JD Williams

Overview

This article answers common questions about the GMP contract workflow. For step-by-step instructions, see the articles listed under See Also.


FAQs

Can I change an existing contract to a GMP contract type?

No. The contract type is set when the contract is created and cannot be changed afterwards. To use a GMP contract, create a new contract with the GMP type selected.

How do I revert an amendment to draft?

Reverting an amendment to draft is not self-serve. Contact customer support using the chat icon in the bottom-right corner of the platform to request the revert.

Note: If the amendment has any downstream items (such as invoices or change orders), those must be handled before the revert can be completed.

Can I change the contract type in Project Settings?

No. The contract type set in Project Settings cannot be changed once configured. To use a different contract type, a new project setup is required.

What happens after the initial GMP contract is executed?

Once the initial contract is executed, you can begin creating amendments. When the Final Amendment is executed, the Original Contract is automatically executed and locked. From that point, the contract can only be modified via a formal Change Order.


See Also

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