FLU Tip Aug 2023

“Whether you’re considered low bidder or high bidder, it’s always good practice to get the bid results submitted to your Surety agent.
If low, the surety will require the bid result to make sure it’s within 10% of the engineers estimate and other bidders.
If high, the bid results will help your contractor understand their competition and where they can “sharpen their pencil” for future bids.”
– Surety Place FRONT LINE UNDERWRITER (FLU) Tip of the Month