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.
Subcontractor Default Insurance losses today can be significant and in some instances have surpassed 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.