Tired of Looooooong Contracting Bid Lists?
Posted by Dan Phelan on Wed, Jun 30, 2010 @ 01:57 PM
If so, is your construction company in the CCR (Central Contractor Registry)? According to an article in the May/June issue of Commercial Construction Magazine, probably not. Of the 885,000 or so construction companies in the United States, just over 20,000(2%!) are listed and approved to bid on federal construction projects. Considering that the federal government spent close to $317 BILLION on construction last year, a whole lot of construction firms are missing out on a huge opportunity to receive ARRA construction money. The biggest gripe we hear when we engage new prospective clients is that bid lists are too long, and the winning bidder will probably lose money on the job and probably be out of business by 2011.
The private sector of construction has dropped over 30% since 2006 and a dramatic rebound isn't in the cards yet, but Uncle Sam still has plenty of work for you on his roads, military bases, and large civil projects revolving around Hurrican and Storm Damage prevention. To find out how to get your name in the registry, and start bidding jobs with low competition, check out How To Be A Federal Construction Contractor.
If you do start winning Federal Construction Jobs, you'll realize that the Federal construction contractor insurance requirements you will be facing are slightly more in depth and complicated than what you and your insurance agent are probably used to. In addition to extra construction insurance coverages, you may also need to secure USL&H (Longshore Harbor Worker's Compensation Act)and acquire a Waiver of Governmental Immunity. Neither are easy to understand if you have never been required to have them before. Luckily, some of Construction Risk Advisor's clients do a considerable amount of Federal construction work and we have helped them navigate the complicated waters of procuring construction insurance quotes for Federal construction jobs.
Get yourself in the CCR (no, not Creedence Clearwater Revival) and get on the shortlist for winning some bids!