Bid Reviews
As a contractor, you may want a new bonding company to support a proposed bid, or you may want an existing bonding company to support you on a larger or more complicated project. Lighthouse's review of your proposal can provide the extra assurance that the bonding company's underwriter needs in order to support you.
In addition, a contractor´s bid may be significantly less than the next lowest bidder, The owner doesn't want a contractor who cannot complete the project smoothly and on time; the bonding company doesn't want to issue a bond for a contractor who may lose money and fail; and, the contractor doesn't want to incur a loss in the event of a mistake that might be corrected before the project begins.
Lighthouse uses professionals to analyze the contractor's bid and to inspect the proposed construction site. The professionals provide a report that explains the reason for the spread in the bid. For instance, the spread may be justified because the contractor used a different means and methods of construction, had a lower overhead structure, benefited from past experience with similar work, or other reasons. On the other hand, the bid may be too low because the contractor misunderstood the scope of the work, relied upon incorrect assumptions, miscalculated the type and quantity of labor or material, or other factors.
The report provides either (a) the assurances that the parties require in order to proceed with project based on the existing bid, or (b) an evaluation of the problems with the bid that will assist the parties in minimizing the potential damages that flow from the low bid.
