“Our clients are telling us that, since 2009, they have seen about a 30% uptick in subcontractors and suppliers going out of business,” Wu says.
In today’s current economic state, the importance of conducting due diligence is at an all time high. “Subcontractor default has been an industry reality ‘since the days of the pyramids,’…”. To ensure your company’s success, you need to ensure your business partners success. By conducting due diligence with Assurance Screening, knowing where your subcontractors stand, and ensuring they can meet the demands of your project, you can Be Sure.
“It pays for contractors to have a game plan to lessen the blow of subcontractor defaults and failures, especially when one considers that the ripple effect is typically 2.5 times the bond price…”
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