4 Things To Know About Pre-Bid Meetings
As a contractor, your success in this industry could hinge on a single bid. Despite the pressure put on winning a construction bid, contractors consistently overlook one of the most important components of the bidding process: the pre-bid meeting. Below, a construction attorney in Orlando with Cotney Attorneys & Constultants discusses pre-bid meetings and how you can get a leg up on the competition to secure the right to work on some of the industry’s most lucrative projects.
1. The Point of a Pre-Bid Meeting
A pre-bid meeting is conducted to clear up any confusion regarding project details, scope of work, and solicitation of documents. It is during a pre-bid meeting that contractors can decide whether a project is in their company’s best interest. As we’ve covered previously, it’s all too easy for a construction company to spread themselves thin and encounter cash flow issues on projects that they should have passed up on.
2. Who Conducts (and Attends) a Pre-Bid Meeting
Naturally, pre-bid meetings are conducted by project owners. Just like how contractors are looking for a project that can be beneficial for their company, owners are looking for contractors that will be the best match for their company. This will also be your chance to scope out the competition and see what you and your company are up against.
3. The Time and Place
Pre-bid meetings are usually held a week or two before the invitation to bid or request for proposals are announced. This gives you enough time to prepare any questions you may have. Study the solicitation documents and be ready to engage with the owner when the time comes (more on that below). Pre-bid meetings are held at an organized event, such as a rented venue, that’s generally easy for all involved parties to attend, so you should have no problems finding the location.
4. Your Participation Matters
Pre-bid meetings are often optional, and, if we’re being honest, they can be quite boring. But if you want an advantage over your competition, you’ll be sure to attend and pay attention during pre-bid meetings. Remember, it’s never too early to make a good impression, so be sure to present questions and concerns to your potential project owner. Even something as innocuous as sitting in the front row could make the difference between winning and losing a bid.
If you would like to speak with one of our construction lawyers in Orlando, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.