Research Article
Valuation of Guaranteed Maximum Price Contracts in Korea Using the Collar Option Model
| Category | Item | Details |
| Basic information | Construction period | 2 years | Number of floors | A basement and a 20-floor building | Number of households | 394 households (5 apartment blocks) | Structure | Reinforced concrete | Gross floor area | 51,861 m2 |
| GMP | Expected cost | $47,756,721 | Contingency | $1,432,702 | Contract fee | $1,967,577 | Total | $51,157,000 |
| Progress rate | t = 1 | 43% | t = 2 | 57% |
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