Bradenton Construction Bids
It is quite common for construction professionals to wait as long as possible before submitting their bids as a way to prevent the deciding party from having time to obtain a lower bid from a competing bidder. In waiting to submit a bid, mistakes are often made and go without notice until, sometimes, when it is too late. It is important for contractors to be aware and mindful of the information they provide in their bids. Simple mistakes can mean the difference in being awarded the contract, which you may or may not be prepared to fulfill, or not being considered at all.
When submitting a bid, we recommend seeking the guidance of an experienced Bradenton contractor lawyer prior to final submission to ensure your bid does not include any errors.
Common Construction Bidding Mistakes
1. Under- or Overestimating Costs
Cost calculation errors on construction bids are one of the most commonly made errors in the construction industry. If you overestimate your costs, you may unintentionally over price your bid and lose the opportunity to be awarded the contract based on price alone. If you underestimate the bid, you may find yourself being awarded a contract that you are unprepared to fulfill. Understanding what costs are involved on a project, both direct and indirect, is imperative, especially for contractors.
To avoid this common mistake, consider using bidding software or keep detailed records of your calculations and double, then triple-check your calculations to ensure accuracy before you submit your bid.
2. Incorrect Labor Rates
Labor and overtime rates can vary widely from state to state, county to county, and even city to city. Many projects may require compliance with the Davis-Bacon Act, or local union salary rates, among others. To avoid using the wrong labor rates in your bids, it is recommended to consult with a contractor lawyer in Bradenton to ensure your bids incorporate the correct labor rates.
3. Missed Deadlines
All invitations to bids will have specific requirements by which contractors must adhere to in order for their bid to be considered. Often these requirements include specific dates, times, and locations by which all bids and proposals are to be submitted. Bids that are submitted after the specified dates or bids that are not submitted to the proper location will likely result in rejection.
4. Missing Signatures
For a bid to considered, it will likely require the signature(s) of the bidding company’s authorized representative(s). If a signature is not provided, the bid may be rejected. To avoid submitting a bid without the proper signatures, our Bradenton contractor lawyers recommend putting together a checklist of all the items that are required, such as signatures, documents, etc., and running through the checklist prior to the submission of the bid to ensure no items were missed.
5. Submitting a Bid Without Legal Counsel
In an effort to save a little money upfront, many contractors choose to submit their bids without the guidance of a Bradenton contractor lawyer. In doing so, contractors may actually be placing their bid at risk. Like all major contracts, construction bids should be thoroughly reviewed by experienced legal counsel.
To speak with one of our contractor lawyers, please contact our office today at 813.579.3278 or complete our contact request form.
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.