1. Provide Performance and Material and Labor Payment Bonds in the amount of 100% of the GMP. 2. Individual Trade Contracts will be between the CM and the Trade Contractors, subject to WCBOC approval. 3. The CM will not perform any portion of the project with its own forces except as may be mutually agreed to by the owner and the CM. 4. The CM will be “at risk” in the proposed undertaking and will be responsible for completing the project within the GMP. 5. Should the final cost of the project be less than the GMP, all savings shall revert to WCBOC. 6. An agreed percentage of pay applications will be held in retention. 7. WCBOC shall have the authority to suspend or terminate performance of the project. 8. Construction Manager will share with WCBOC the calculations and assumptions on which the CM’s proposed GMP is based.
