How Does Open Book Billing Work?
• Step 1: You will receive a Guaranteed Maximum Price (GMP) Estimate which will specify all work to be done and provide a cost estimate that will be your guaranteed maximum price. Note: Any subsequent changes, additions, abatement, or unforeseen conditions not specified in estimate may cause the cost to exceed the GMP estimate. • Step 2: Accurate records of material cost, subcontractor cost, and labor cost during construction will be recorded by Piper Construction. • Step 3: Upon completion of work you may request any additional financial information regarding your project. • Step 4: Your final bill will only include the actual material cost + actual hours worked + business overhead + coordination cost from your project – not to exceed your original GMP Estimate.
