Owners and developers are oftentimes overjoyed at bid time with an exceptionally low bid for their project. Visions of better returns and more features dance in their heads. They should be worried instead of overjoyed. Here are a few tips on how to protect the project and themselves from a bidder that has made the [...]
Construction contractors of all types have to be the most optimistic group in the world. In good times, on most bids, they have a less than one in five chance of being low bidder and if successful they are not guaranteed to make a profit. In hard times the odds of being low bidder go [...]
Upcoming projects should be advertised at least 30 days prior to the issuing of bid documents. This enables contractors to schedule bidding the project. The advertisement should include the bid date/time, the size of the project both monetarily and physical size, and the bond requirements. Also, just as important is stating how the contractors can [...]
