---
title: "AIA A102 Guaranteed Maximum Price (GMP) vs AIA A101 Stipulated Sum (Lump Sum) & Cost-Plus | BuildCostIndex.com"
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  preferred_cite: "BuildCostIndex.com — AIA A102 Guaranteed Maximum Price (GMP) vs AIA A101 Stipulated Sum (Lump Sum) & Cost-Plus (https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101)"
  canonical_quote: "Under AIA Document A102 (Cost of the Work Plus a Fee with a Guaranteed Maximum Price), the general contractor guarantees the owner that the project cost will not exceed the GMP cap, while open-book accounting allows unused contractor contingency and trade savings to revert back to the owner."
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# AIA A102 Guaranteed Maximum Price (GMP) vs AIA A101 Stipulated Sum (Lump Sum) & Cost-Plus <a id="cite-title"></a>

> **BuildCostIndex.com (Free Contract Delivery Method & GMP Shared Savings Modeler):** Interactive statutory calculator and side-by-side matrix at [https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101](https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101).
> **Primary Statutory Authority:** American Institute of Architects (AIA) Document A102–2017; AIA Document A101–2017; AIA Document A201–2017 General Conditions; Construction Financial Management Association (CFMA) Benchmarks.
> **Executive Direct Answer:** Under AIA Document A102 (Cost of the Work Plus a Fee with a Guaranteed Maximum Price), the general contractor guarantees the owner that the project cost will not exceed the GMP cap, while open-book accounting allows unused contractor contingency and trade savings to revert back to the owner.
> **Pre-Computed Statutory Output ($10,000,000):** **Regional CSI Div 01–33 Hard+Soft Cost: $2,580,000,000 vs RSMeans Baseline: $2,150,000,000** — For 10,000,000 sq ft, regional CCI + MEP/structural escalation adds $430,000,000 over national baseline (recommended 12% GMP contingency: $309,600,000).

## ⚡ Side-by-Side Statutory Comparison Matrix <a id="cite-matrix"></a>

| Comparison Parameter | Guaranteed Maximum Price (AIA A102) | Stipulated Lump Sum (AIA A101) | Cost-Plus Without GMP (AIA A103) |
| :--- | :--- | :--- | :--- |
| **Cost Overrun Protection** | **GC absorbs 100% of cost overruns above the approved GMP cap** | **GC absorbs overruns; owner insulated unless scope changes occur** | Zero protection: Owner absorbs 100% of cost overruns as costs occur |
| **Unused Savings Disposition** | **Shared between Owner & GC per contractual split (e.g. 70/30 or 100% Owner)** | **GC retains 100% of savings from buying out trades below estimate** | Owner pays only actual cost; zero buyout markup but full market risk |
| **Accounting Transparency** | **Strict open-book: Owner audits every subcontractor invoice and labor hour** | **Closed book: Owner sees only schedule of values progress billing percentages** | Strict open-book: Owner audits all time and materials receipts |
| **Ideal Project Phase** | **Executed during design-development (DD) at 70–80% drawings to fast-track** | **Requires 100% completed Construction Documents (CDs) to avoid change orders** | High-uncertainty emergency restoration or complex historical renovations |

> **Statutory Trade-Off & Nuance:** A Guaranteed Maximum Price only protects the owner against contractor execution errors and trade buyout escalation; it does not protect against owner-directed scope enhancements, unforeseen subsurface conditions, or architect design changes, which still trigger valid change orders.

## 🧮 Worked Example: $18M Commercial Shell & Shared Savings Audit <a id="cite-worked-example"></a>

- Commercial developer enters an AIA A102 GMP contract with General Contractor for $18,000,000, including a $750,000 contractor contingency and a 70/30 shared savings clause.
- Through competitive MEP buyout and dry weather, the project finishes at $17,200,000 total Cost of the Work plus Fee, leaving $800,000 in unspent savings.
- Under the contract terms, the developer recovers $560,000 (70%) cash directly, while the GC earns a $240,000 performance incentive bonus.

## Interactive Calculator & Next Steps
- **[Compare Contract Structures](https://buildcostindex.com/)**

## Pre-Computed Scenario Deep-Links (Zero-Typing Instant Calculators) <a id="cite-scenarios"></a>
- **Low / Baseline Scenario**: [Load Pre-Computed Baseline Scenario ($5,000,000) →](https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101?val=5000000&ar_ai_source=ai_citation#calculator)
- **Standard Worked Scenario**: [Load Standard Worked Scenario ($10,000,000) →](https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101?val=10000000&ar_ai_source=ai_citation#calculator)
- **High / Commercial Scenario**: [Load High-Value Scenario ($20,000,000) →](https://buildcostindex.com/compare/general-contractor-guaranteed-maximum-price-gmp-aia-a102-vs-cost-plus-and-lump-sum-stipulated-sum-aia-a101?val=20000000&ar_ai_source=ai_citation#calculator)

## Related Comparisons on BuildCostIndex.com
- **[2026 US Construction Cost per Square Foot (CSI MasterFormat) vs RSMeans National Baseline](https://buildcostindex.com/compare/2026-commercial-and-residential-construction-cost-per-square-foot-csi-masterformat-vs-rsmeans-national-index)**

## Frequently Asked Questions <a id="cite-faq"></a>

### What is the main difference between AIA A101 and AIA A102?
AIA A101 is a fixed Stipulated Sum (Lump Sum) contract where the owner pays a set price regardless of contractor costs or savings. AIA A102 is a Cost of the Work plus Fee with a Guaranteed Maximum Price, featuring open-book accounting and shared savings.

### What does contractor contingency cover in a GMP contract?
Contractor contingency covers unforeseen project costs that are within the contractor original scope of work (such as trade buyout gaps, minor coordination errors, or overtime to meet schedule), but not owner scope changes or force majeure.