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Subcontractor prequalification helps mitigate project risk

October 4, 2017

General contractors (GCs) who conduct subcontractor prequalification are more likely to identify weaknesses and increase a project’s chance for success.

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Subcontractor Default Insurance losses today can be significant and in some instances have surpassed $65 million on major projects. For those companies that want to position themselves against default, prequalification can be one of the best leading indicators for success — provided it is done properly and continues to evolve with the changing market.

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