Factors to Consider When Bidding on Construction Projects Part 1
As a general contractor, there are many factors to take into account when deciding to bid on a project. As construction lawyers in Jacksonville, we highly recommend that contractors take the time to assess these factors before bidding in order to make the process a little less stressful. To view the next half of this article, please visit Part 2.
Assess Your Current Obligations
Before you bid on a project, take a step back and observe your current obligations. Your current construction projects still need to be completed. You cannot afford to spend time and energy putting together a bid for a new project when you need to finish a current project. Thriving contractors have been known to pass on new opportunities because they cannot afford to expand their resources to put together a new bid and take on a new project.
Assess Your Bidding Opportunity
Make certain to take the time to investigate a prospective bid before stepping up to the plate. You want to make sure that an owner is willing to start the project after they find out what the estimated expenses will be. It might be easier to turn down a bid than to waste time and money on the bidding process that has a small probability of turning into an actual project award.
Assess The Project Itself
One of the first things to consider as a contractor examining a potential bid, is the physical location of where the project will be. If the construction site is very far away, and your company is smaller and unable to place an office near the new site, the project may simply be unfeasible. The next thing a contractor should think about is what type of construction will be involved in the particular project. If the construction project involves a specialty that your company is unfamiliar with, it might not be worth your time and effort. To work on a specialty project, you would need to spend extra time and money training your employees in the specialized field, or even hire an exper. For any questions regarding the legal aspects of an unfamiliar specialty, the best route to take would be to contact your construction attorney in Jacksonville for assistance.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.