DIRECT COST SAVINGS TO PROGRAM SPONSORS
Since the CDABP ’ s inception , program sponsors have captured $ 7.16 million in contract cost savings because a CDABP-enrolled contractor , who would not have been able to participate without the program ’ s bonding support , bid on and was awarded a sponsor contract . This cost savings is the difference between the actual awarded contract amount and the amount of the second lowest bid ; the second lowest bid amount is the contract cost that the sponsor would have incurred has the CDABP- enrolled contractor not been able to submit a bid .
46 - imwis . com SPRING 2024 LA CONTRACTOR CONNECTION - 41