The tool used to limit the number of contractors bidding on a public project is the requirement for a prequalification statement.
What is a prequalification statement?
- In order to respond to a request for bids for a design-build contract, a bidder must first be prequalified by the contracting unit.
- Prequalification is the process of assessing potential bidders to see if they possess the knowledge, integrity, and financial resources required to faithfully carry out a construction or repair contract.
- A Constructor's past projects, experience, ongoing projects, organizational structure, bonding capacity, safety program, and people are all covered in the qualifications.
- Potential Constructors have the chance to build a rapport with the Owner through this contract form.
- The way of acquiring building works that is still most frequently utilized is traditional procurement.
- It consists of a three-way contract between a client, consultants, and contractor.
- Traditionally, design and construction are separated during the procurement process.
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