Many new contractors who are interested in the construction industry ask how to bid construction jobs. There is no set way to bid on construction projects, but coming up with the most accurate cost estimate and developing the lowest bid is a tried-and-true method.
Construction bidding is the process in which a general contractor is selected to work on a construction project.
In some cases, the only thing that matters in the construction bidding process is presenting the lowest price to the owner; in other cases, the contractor’s qualifications are as important—if not more important—than having the lowest dollar amount.
One of the most lucrative long-term opportunities for construction companies is winning construction bid projects. As a construction company small or large, you most likely already know obtaining business through contract bidding can be a great source of income. It is also a way of securing long-term work and steady cash-flow for years.
Virtually all of the public construction work in America is accomplished by private sector firms. This work generally is awarded to the lowest responsive bidder through the open competitive sealed bid system. Surety bonds play a critical role in making the system work.
There are also several internet search sites for current and upcoming construction bids in most states, at Bernard Fleischer and Sons/BFBond.com we are a licensed bond provider in all 50 states.
BFbond.com has an easy application that can be filled out online, which will give the necessary information for the underwriter to know who you are and where you are coming from. It is impossible to give too much information regarding a contractor. Everything the contractor does can be submitted to the company. His ability as an estimator can be determined by the listing of bids submitted in the application. Newspaper accounts of work, etc. and photos are always helpful.
THAT’S IT! Easy as 1, 2, 3, our streamlined process will get you on the fast track to obtaining a bid & performance bond.