PREQUALIFY TO STAND OUT WITH PRIMES
Past performance and project history are also taken into account. You should be able to present a list of similar projects completed, contact information for owners for reference checks, and evidence of specialty expertise for the project.
As is the case with most projects, you must provide proof of holding a contractor’ s license( city / state as required) and the proper certifications( LBE, DBE, MBE, WBE, etc.). For legal and compliance reasons, you must also show pending or past litigation, claims, or defaults, and you should have compliance with labor laws, prevailing wage, or union agreements.
Primes may also ask you for the number of employees( both field and office, the equipment that you own or lease, your current workload, and your subcontractor / supplier network.
Quality control and documentation is also an important part of becoming prequalified. You will need to provide an outline of written quality assurance / quality control procedures, a description of your record-keeping systems, and your ability to submit digital reports, RFIs, submittals, and close out documents.
Here are some helpful links to becoming prequalified with the following primes:
Turner Clark Swinerton Webcor
There is a strong connection between becoming prequalified with a prime and securing bonding. Sureties want to see financial stability before issuing performance or payment bond, and the paperwork prepared for prequalification— CPA financials, bank references, job history, and safety record— are the same documents that sureties require. In most cases, a contractor who is prequalified with a prime is considered“ bondready.
So, a contractor with a track record of prequalified projects can prove successful completion of larger jobs, and sureties use past performance as proof that you can handle more work. This documentation can increase both single project bonding limits as well as aggregate bonding capacity.
Another advantage has to do with the fact that since prequalification requires the disclosure of financial information, safety, and legal history, there are fewer red flags later when applying for bonding. Sureties prefer transparency, and prequalification shows that you are organized and upfront with your history and records.
Merriwether & Williams, a HUB International Company, can assist contractors with navigating the prequalification process and provide direction on completing the process in a timely manner. We may be reached at cdp @ imwis. com or by calling( 415) 986-3999.
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