It is common for schools and municipalities to assume that their Prime Contractors, or General Contractors and CM at-Risk firms have the appropriate types of subcontractor qualification programs in place. Unfortunately even the best systems contain gaps that can leave you and your projects with unnecessary risks.
Don’t assume. Require.
The cost of managing the risk is minimal compared to the size of the risk and how much a single incident can cost the overall project. Missed deadlines and increases in project cost can occur if even one subcontractor fails. Proper due diligence on the front end can help mitigate risk and reduce the chances of incidents occurring throughout a project.
As the owner of the project, you have the ability to mandate how this problem is being solved. By requiring that your General Contractors and CM at-Risk firms implement an effective screening and subcontractor qualification program through the use of ProQual, you will experience increased control in addition to gaining the ability to audit subcontractor files by accessing the ProQual database.
With ProQual, both project owners and their Prime Contractors are being protected from hiring subcontractors with financial instability, questionable past performance, improper insurance or lacking appropriate credentials. ProQual helps the Prime Contractors for your project to make informed decisions when selecting their subcontractors.
To put things in perspective: the cost of having all subcontractors and suppliers screened by ProQual would cost approximately one half of one percent or less of the total project cost*. In addition, with our flexible pricing options, our process can defer the cost to the subcontractors being screened, leaving no additional cost to ownership or the Prime Contractor.
ProQual, a division of Pantera Global Technology, Inc., can handle it all. From subcontractor registration, document collection and verification including insurance documents and others; your entire process is covered. ProQual’s system complements our internal verifications team procedures; all of which are specially designed to run the process for your Prime Contractors. With ProQual, you and your Prime Contractors can feel confident knowing that they have the information needed to make the right decisions when contracting subcontractors.
Our services include, but are not limited to:
- Collection & Verification of Certificate of Insurance
- Bonding Capacity Verification
- Verification of Union Status
- MBE/DBE Certification Verification
- Bankruptcy, Lien, & Judgment Check
- OSHA Citation & Violation Search
- EIN & W9 Collection & Verification
- EMR Collection & Verification
- The Experian™ Business Profile Report
- Professional License Verifications
- Corporate Status Verification
- Professional Project Reference Checks
Verification is key to risk mitigation. Meet with ProQual today!
*based on an average project sizes ranging from $250k to $50mm
