Why become a prequalified
Pinkard Construction Subcontractor?
To request a prequalification packet, please email your inquiries to:
Let us explain why it is beneficial to both Pinkard Construction Co. (PCC) and to you, as a potential trade partner, to complete the PCC prequalification process.
How our prequalification process works:
1. We gather basic information about your firm – legal and DBA names, your address and key contact information – so we can enter your firm as a vendor in our system.
2. We need some relevant information about: the kind of work your firm does, your recently completed and current jobs, your safety record, and any legal issues you may have to help us discern your company’s capabilities.
3. We ask for some essential financial information - a letter from your bonding agent specifying your single-project bonding capacity and a current balance sheet (preferably audited or reviewed). We do not need nor want to see a Profit & Loss statement which discloses your profit margin. We understand the sensitive and confidential nature of this financial information such that we safeguard it as we would our own.
The financial information is especially important because it is the main determinant of the dollar amount your firm can be prequalified to do: without it, you can only be invited to bid on projects of a nominal size, perhaps far less in value than your company may be qualified to bid.
The prequalification amount is derived from:
• some key ratios and measures from your balance sheet
• the amount of your bonding capacity, and
• the largest contract your firm has completed in the past three years.
It is this prequalification amount that allows PCC to work with a broad range of subcontractors because it measures the size of contract that a subcontractor can handle based on the underlying financial information provided.
How does this prequalification
process benefit PCC?
• It helps us to select skilled personnel, leads to greater efficiency during construction and ensures a quality product to our client.
• Matching of contract size to prequalified subcontractor helps PCC better manage risk.
• It provides our staff with an instant “Go To” list to invite qualified companies to work on our projects.
• It allows us to update information changes on your company (address, staff, phone/fax, e-mail) that you may not have notified us about previously.
How does this prequalification
process benefit our Subcontractors:
• Subcontractors all have to have been in business for at least one year, are fairly compared “apples to apples,” and held to the same standards.
• Matching of contract size to prequalified subcontractor helps subcontractors better manage risk and help ensure a successful project.
• The subcontractor can generally avoid the need to bond and the cost of bonding.
• Only prequalified subcontractors can be invited to bid our negotiated (contract) work, which means less bidding competition for you.
• You are made aware of our insurance requirements in advance of your bidding any work.
• It gives your company the opportunity to increase your prequalification amount every year.
• Once awarded a contract with us, job performance can enhance opportunities for future work.