The Construction Of A Company

956 WordsApr 12, 20164 Pages
Most construction professional have no experience in law, but they at least need to have a clear understanding of their work involving contract construction. There not always gone be a time were professional will have time to consult lawyers on construction and bid contracts. When it comes down to bidding and contract bargaining the heat on construction professional is blistering. Profit is mostly the reason for bidding on a contract. To become successful in bidding a construction company has to have a great background for great work and prodigious completion timing. Some construction company bid for no profit when there company have been inactive for a while. They do it to keep their company up and running smoothly. To start a bid, a contractor must first prepare a bid packet. The first step in preparation is a cost estimate. The cost estimate should include material, labor, equipment, and subcontract costs. Then it is a must to add an additional amount for float and profit. The initial steps in the bidding procedure include solicitation, bid preparation, bid submission, bid opening, selection of the lowest qualified bid, and contract award. Contractors who have shown interest in a bid should at least be given one set of contract documents. Three weeks, is the suggested reasonable minimum time allowed for bid preparation. Most bid opening are open to the public, and the prices are announced once opened. Bid deadline should not occur on a holiday or the day following. Some
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