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People also ask
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What does it mean to be prequalified as a contractor?
Prequalification is an information-gathering process that determines a contractor's capability, capacity, resources and performance. The process usually takes place at the beginning of the procurement process, when we have the greatest ability to influence safety holistically.
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What is the reason for prequalification?
The purpose of pre-qualification is to ensure that only qualified and competent contractors are invited to participate in the bidding process, which saves time and resources for both the project owner and the contractors.
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Why prequalify contractors?
Prequalifying subcontractors serves as a critical safeguard for both project owners and general contractors. By meticulously vetting subcontractors, general contractors can assemble a team of skilled and reliable professionals who are aligned with the project's goals, ultimately building trust with the project owner.
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What is the purpose of contractor prequalification?
A prequalification program means you don't have to trust their promises, because it allows you to verify that they follow recognized safety standards. By examining a wide variety of characteristics, you'll be able to determine whether or not the contractor's employees belong on your jobsite.
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Why is prequalification of bidders important?
Prequalification is important because it helps buyers avoid wasting time and money on suppliers who cannot meet their contractual obligations. It can also help sellers identify qualified bidders early in the bidding process, saving them valuable resources and time.
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