GMP- Guaranteed Maximum Price

What this means to you

Guaranteed Maximum Price - Answering the pleas from industry leaders for something better than billing by the hour, Scholefield has implemented a GMP (Guaranteed Maximum Price) program. This program is based on recommendations from clients, independent research, and interviews with other law firms that have implemented similar programs. You have no surprise charges for anything. We provide a complete detailed breakdown of the costs and fees you may incur and guarantee that the price will not exceed the budget for these tasks. We do track the tasks that have been accomplished and those that are still waiting to be completed.

The GMP program is modeled after the construction process of estimating and submitting a not-to-exceed price for a project, and then delivering a finished product at that guaranteed price. Complete with a litigation schedule with tasks and phases (equivalent to a project schedule with milestones) and a familiar looking schedule of values. It is as simple as that. However, just as with any construction project, there are provisions for unanticipated events which could result in change orders, but the total costs of the project are known prior to signing an agreement for the work.

How we do it - At Scholefield, we limit our practice to construction law and we thoroughly know our way around construction problems. We are depending our knowledge and experience to be able to deliver quality legal representation on time and within budget. If for some reason, we do not stay within our budget price, we absorb the additional costs, not you. That is our penalty for either being inefficient or being poor estimators. We are sharing the risk.

For litigation -

(A) Initially, we consult with a client, review documents and get an understanding of the nature of the dispute. We can expect this to take several hours to a few days, depending on the volume of material or the complexity of the matter that has to be reviewed.

(B) We then prepare a detailed proposal which includes a total cost, and a schedule of values. In addition, we will list the expected legal events that are included and possible additional cost items that are beyond our scope or control.

(C) When you receive your price quotation, explanation of the quote and a detailed estimate for the scope of work, you can decide what your next move will be, or whether you even want to use the services of our firm.

The Advantages of a GMP contract
Because you have a guaranteed maximum price quotation, you know:

(A) what your legal costs will be, you can budget for the litigation. This can be extremely helpful in strategizing for settlement, understanding the total impact of pursuing a lawsuit, or making wise business decisions.

(D) You will also know the exact cost of any additional tasks. These are equivalent to a construction change order.

Important information for in-house counsel - You can pick and choose what tasks you want to self-perform and what you would like us to handle. We are flexible and are more than willing to accomodate your specific needs. This will help you keep your costs down while at the same time allow you to have highly specialized legal help on-demand only when you need it.

We are...
Anything But Typical

Call us now to discuss how you can benefit by using a different approach to managing to your legal needs.
619-544-0086
info@construction-laws.com

We are located at 501 W. Broadway, #1770, San Diego CA 92101