Idaho Code 40-108 – Definitions — G
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(1) "GARVEE" means grant anticipation revenue vehicle, a debt financing instrument which enables states to finance state transportation infrastructure projects and to pay debt service and other bond-related expenses with future federal-aid highway apportionments.
(2) "Guaranteed maximum price (GMP)" means the total maximum price that includes all reimbursable costs and fees, except for material changes in the scope of work, for completion of a construction manager/general contractor contract that is provided by the selected contractor and accepted by the department.
Terms Used In Idaho Code 40-108
- Contract: A legal written agreement that becomes binding when signed.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114