Federal construction contractors can reduce competition in bidding by requiring performance and payment bonds through the checkbox in Box 12A of contract forms, which filters out smaller competitors and allows qualified contractors to win contracts with fewer bidders.
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Deep Dive
Less Competition. Bigger Opportunities. The Power of Bonding.Added:
If you're a federal government contractor, specifically in construction, you need to watch this.
This is a highly competitive business and trust me, I've seen the worst of it.
But let me tell you something, there's a way that you can get around some bids without bidding up against five people.
Let me show you how.
There's something called a bid bond or a performance bond or a payment bond.
Let me tell you more. I have a few of my projects pulled up here and just take a look at this one.
33 bidders on one contract and we somehow won this.
And this one, I was pressured 10 other people, 11 bidders in total.
But now look at this one.
Three, two, five.
So what's the difference?
The difference is in a checkbox. If you look at box 12A, the contractor must furnish any required performance and payment bonds.
Check yes.
And we have another contract here.
Check yes. We have another contract here. Check yes also, but you can also see here that offer guarantee is also checked.
So now, if you want to know more about this, just go to your Google search bar and type in Foundation Surety and they should be the first ones that pop up.
You go to your to the website and that's it. You could click get a bond.
Guys, I love working with Foundation Surety. They are absolutely the best uh on the bonds that we do have with them and the ones that we've gotten in the past, they've been super delightful to work with. The team, Peter, Ricardo, Marcus, they are just great guys. And as you see, I'm going to this website just to show you how you can get more information about the bonds themselves and you can also see their testimony page. Just massive amounts of people raving about how great this surety company is. There's no one else I would choose other than Foundation Surety to grow with me, scale with me. If you are a federal government contractor, you need to be with them. So, for me it's really simple.
If I can have less competition, that's the route I'm going to take. And of course, I'm going to use Foundation Surety to get me to the finish line.
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