A Checklist for the Most Efficient Construction Tender Documentation Review
The tendering process requires exceptional accuracy from all the parties. Construction tenders are similar to ones in other niches and related to other industries. Nevertheless, there is a range of peculiarities to take into consideration. For example, force majeure situations and the methods to overcome accidents can vary.
At the same time, the contract signed as a result of the construction tender can differ from the agreement between representatives of the automotive sector as well. The attention to detail and the area of competence matter in this case. That is why more and more contractors entrust the procurements and estimating stages concerning the pre-tendering and tendering routines to high-quality construction pricing software.
Digital tools make all the stages hassle-free for building companies while satisfying for clients who see professional candidates and participants in the arranged tender. Additionally, the risk of improper calculations, estimations, and any other costing forecasts is decreased with best-matching software to minimum rates.
But it is impossible to exclude human-driven decisions from the procurement process and the tendering procedure. That is why qualified estimators, managers, and general contractors should take into account the checklist of further items for the tender reviewing procedure.
Top 7 Items in the Tender Checklist for Contractors to Take into Account
The tender analysis is the essential stage of the construction tendering pipeline in general. That is why the checklist with 6 critically important items will come in handy for contractors to miss nothing.
Among these six hot-topic aspects for the tender are:
1.Insurance. The rule of the every-claim basis works for the construction tenders. It is possible to use the concept of like-for-like when it comes to insurance and other policies required for parties.
2.Qualifications. It is necessary to check all the certificates and licenses at the very beginning. If you hire someone, be sure of his/her competence, qualification, and skills. This recommendation is in-demand for both customers who arrange tenders and for general contractors who hire subs.
3.Renewal dates of the construction documents (insurances and permits). Do not forget that all the certificates need to be refreshed by the owners to prove the fact of their qualifications and competence. Sometimes the contractor or subcontractor provides insurance policies and permits with expired dates. Find the renewal date and be sure that everything is according to the legal frames.
4.Assumptions. You need to review these documents and issue them to all the team members like designers, architects, estimators, and project managers. The important party for the assumptions is the customer who arranges the tender. The client can comment on all these documents to make these or those aspects clear.
5.Tender returns. This document is also issued to all the parties in the tendering process. The design team is able to comment on tender returns.
6.Checks of the reports. First, the designers’ team comments on the suggestions and changes of the client in the reporting documents. Then, the financial checks take place. Both parties (contractors together with estimators and clients can comment on the estimating documents and budget plan reports). Sometimes, access to commenting features is given to subcontractors if they disagree with the costing data entries.
7.Priced risk registers. This documentation is reviewed by all the parties to avoid challenges during the construction process. All the building and costing risks should be appropriately estimated. All the changes are approved by the client and general contractor or the project manager.
It is worth noting that after the reviewing stage and approvals of the tendering documents the post-tender stage takes place. The full tendering analysis comes to an end together with other specific arrangements like negotiations, interviews, etc. The post-tender estimate consists of like-for-like discussion and cost-center preparation to find the most optimal variant for all the parties.
Finally, the procedure of notifying tenderers takes place. When the client is ready with his/her decision, it is necessary to inform all the participants about the final tender report. The winning tenderer gets the order while unsuccessful tenderers are thanked for their efforts and time paid to the tendering process of this customer.