{"id":88,"date":"2016-04-28T15:22:52","date_gmt":"2016-04-28T15:22:52","guid":{"rendered":"http:\/\/bondingspecialist.com\/blog\/?p=88"},"modified":"2023-10-27T20:00:20","modified_gmt":"2023-10-27T20:00:20","slug":"checklist-to-evaluate-contractors","status":"publish","type":"post","link":"https:\/\/www.bondingspecialist.com\/blog\/checklist-to-evaluate-contractors\/","title":{"rendered":"Checklist To Evaluate Contractors"},"content":{"rendered":"

Looking for a professional contractor for commercial or residential construction projects can be all consuming.\u00a0 There are steps that need to be followed to ensure that the contractor you are hiring can meet the performance expectations while staying on time and within budget.\u00a0 In order to evaluate the contractor\u2019s ability to accomplish this you must take time to look into their background.<\/p>\n

Looking into a contractor\u2019s background can consist of several things including reference checks, viewing portfolios and analyzing online reviews.<\/p>\n

Reference Checks:\u00a0 As you narrow down contractors to work with it is imperative to ask to speak to both recent commercial and residential clients.\u00a0 These clients will revile what you can expect when working with the contractor.\u00a0 This will give you an idea of where you should align your expectations should you choose to work with them.<\/p>\n

Portfolio Viewing:\u00a0 There are many ways in which a contractor can show off their portfolio.\u00a0 A great way contractors can visually show who they are is through an online forum such as an up-to-date website rich in photos of projects.\u00a0 Websites that offer images of projects from start to finish can often be the most helpful to individuals looking to hire a contractor.\u00a0 If you want a closer look at projects completed by the contractor ask them to view a job they are currently working on or have recently finished.<\/p>\n

Online Review Analysis: Getting to know a company is made simpler with internet review forums.\u00a0 Read reviews from individuals reviewing contractors that have worked on projects similar to the one that you are looking to hire them from.\u00a0 People are completely honest, maybe even too much so when it comes to online reviews.\u00a0 It is a great place to get to know a contractor through their client\u2019s eyes.<\/p>\n

Although evaluating a remodeler\u2019s background offers a great deal of insight to the hiring process it doesn\u2019t offer a complete picture.\u00a0 When selecting a contractor for construction endeavors it is critical to the success of the project to confirm that all individuals, including sub-contractors, are licensed, insured and bonded.<\/p>\n

It is essential that any contractor that is hired for any residential or commercial project not only be licensed and insured but also bonded.\u00a0 A variety of construction bonds are offered to ensure that all aspects of a project are covered.\u00a0 Below is a list of bonds that secure the project owners interest in a project from a contractors default.<\/p>\n

Contractor License Bond<\/a>: \u00a0A contract license bond includes three different parties including the obligee, the principal and the surety.\u00a0 This type of bond is secured as a promise that the surety (bonding company<\/a>) makes to pay the obligee (project owner) if the principal (contractor) is unable to fulfill the contract as stated.<\/p>\n

Bid Bond:\u00a0<\/a> When a contractor is bidding on a project a bid bond is required especially on government projects.\u00a0 A bid bond is used to inform the owner of the project that the contractor can secure a bond if they are the lowest bidder.\u00a0 It states that the bid amount covers the financial liabilities of the project.\u00a0 It ensures that contractors don\u2019t low ball a bid in order to get the job only then to ask the project owner for additional funds as the project progresses.<\/p>\n

Performance Bond:<\/a>\u00a0 A performance bond is used to guarantee that a project is completed.\u00a0 It ensures that the job is performed as stated within the contract and that it is completed within the time frame that is expected.<\/p>\n

Payment Bond:<\/a> Usually a payment bond is issued in conjunction with a performance bond.\u00a0 Contractors post payment bonds to ensure that the subcontractors and material suppliers that are working on the project will be paid.<\/p>\n

Construction Bonding Specialists, LLC<\/a>\u00a0are dedicated Surety Bond Professionals<\/a> that are aligned with several Treasury Listed and AMBest Rated Surety markets which allows them to assist with virtually all Bid, Performance and Payment, Financial Guarantee and Supply bond needs.\u00a0 Find out more information at\u00a0https:\/\/www.bondingspecialist.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Looking for a professional contractor for commercial or residential construction projects can be all consuming.\u00a0 There are steps that need to be followed to ensure that the contractor you are hiring can meet the performance expectations while staying on time and within budget.\u00a0 In order to evaluate the contractor\u2019s ability to accomplish this you must…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[12,3,6,13,10,7,11,5,4,9,2,8],"class_list":["post-88","post","type-post","status-publish","format-standard","hentry","category-surety-bonds","tag-appeal-bond","tag-bid-bond","tag-construction-bond","tag-contractor-license-bond","tag-lien-bond","tag-maintenance-bond","tag-mortgage-broker-bond","tag-payment-bond","tag-performance-bond","tag-subdivision-bond","tag-surety-bond","tag-vehicle-dealer-bond"],"acf":[],"yoast_head":"\nChecklist To Evaluate Contractors - 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