A contract entered into pursuant to NRS 338.1696 that is for a guaranteed maximum price may include a provision that authorizes the construction manager at risk to receive all or part of any difference between the guaranteed maximum price set forth in the contract and the actual price of construction of the public work, if the actual price is less than the guaranteed maximum price.
NRS 338.1697
Authorized provision in contract with construction manager at risk for construction of public work or portion thereof for guaranteed maximum price
(Added to NRS by 2007, 2894; R 2013, 2986; R 2017, 4035; A 2021, 736, 2218)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.