What is a key feature of CCDC 5B?

The key feature of CCDC 5B is that it includes options for guaranteed maximum pricing. This contract type is particularly beneficial in construction projects where the project owner wants to have cost certainty while giving the contractor flexibility to manage the project. The guaranteed maximum price (GMP) establishes an upper limit on costs, which provides the owner with protection against cost overruns beyond this set price.

Under CCDC 5B, once the contractor reaches the maximum price, any further expenses are typically absorbed by the contractor. This arrangement encourages efficient management of the project and allows for shared risks and rewards, incentivizing the contractor to control costs while still maintaining the quality and scope of work required.

The other options do not accurately reflect the characteristics of CCDC 5B. For instance, while cost control is important, the contract does not strictly enforce cost limitations in the manner implied. Also, CCDC 5B is not solely designated for services; it encompasses more comprehensive construction project services. Lastly, it does not mandate unit pricing for all services but allows for flexibility in how services and pricing are structured.