Subcontractor Prequalification White Paper: A Must-Read for Continued Growth
Although the U.S. economy has turned around, the construction industry has fierce competition when it comes to landing projects. As a subcontractor, one of the best ways to ensure that your organization is favored by a general contractor is making sure you’re prequalified.
But what is prequalification? And how can you ensure you’ll be prequalified?
Find out the answers to these questions and more by reading our latest white paper, “Subcontractor Prequalification: Putting Your Best Foot Forward,” prepared by our Partners at Assurex Global.
After laying out the foundation for prequalification, the white paper outlines the three Cs of underwriting—character, capital, and capacity—and provides insight into elements of each that underwriters look for when prequalifying. Examples include:
- Annual financial reports and interim financial information
- Working capital
- Relationships between general contractors, subcontractors, and suppliers
- Credit history
- Organizational structure
- Past performance and experience
In addition to more information about the three Cs, the white paper outlines 11 tips for subcontractors wanting to put their best foot forward during the prequalification process. This white paper is a must-read for subcontractors wanting to ensure growth and prosperity for the future of their business.