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Look for assistance from others who may have bid on construction contracts in the past or review a list bid service companies you can find through FedSpending.org or USASpending.gov. In addition to helping you locate and complete bid documents, a bid service may also alert you to available subcontracting opportunities.
There are three main types of construction contract, identified according to the mechanism for calculating the sum due to be paid by the employer: lump sum contracts, re-measurement contracts and cost-reimbursable contracts.
As a general rule, every federal contractor must register in the Central Contractor Registration (CCR) database and complete an Online Representations and Certifications Application (ORCA) before becoming eligible to receive a federal contract, grant, loan or other form of federal financial assistance.
HIRE WELL. When tech tycoons come calling, contractors have to be ready to execute at the highest level and on a strict deadline. DIFFERENTIATE YOUR BID. Right now, money is flowing through the construction industry at a feverish pace. HAVE A STRONG PARTNER. STAY READY.
There are two generally accepted accounting methods used to account for construction contracts; the percentage of completion method (PC) and the completed contract method (CC).
Search for contract opportunities in different sectors. find out what's coming up in the future. look up details of previous tenders and contracts.
Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop Work Clause and Stop Payment Clause. Act of God Clause. Change Order Agreement. Warranty.
Get it in writing. Keep it simple. Deal with the right person. Identify each party correctly. Spell out all of the details. Specify payment obligations. Agree on circumstances that terminate the contract. Agree on a way to resolve disputes.
Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop Work Clause and Stop Payment Clause. Act of God Clause. Change Order Agreement. Warranty.