How To Respond To Contractors Quote

If yous've never put together a response to a asking for qualifications for a commercial structure project, it's hard to know exactly what information to include. What are the expectations from potential clients? How can you best showcase your ability to do the work?

We've put together a list of common items that are typically requested in RFQs. You don't necessarily have to include them all, but it's good to know what items y'all may demand to provide. But get-go, let's make sure nosotros're speaking the same language, and then we'll give you lot some keys to responding to an RFQ.

What is an RFQ?

There are so many acronyms in construction; it can be dizzying. Their meanings seem to exist unlike depending on what part of the country or world you lot're in. Let'south become over a few key terms now, then we're on the same page every bit we advance.

An RFQ, or request for qualifications, focuses on a contractor'south feel, past projects, and credentials. Its purpose is to determine whether a contractor is qualified to perform on a project rather than on the toll of the project. In fact, pricing often isn't part of an RFQ. They're often used to help owners select a modest group of contractors to provide pricing on a project.

An RFP, or asking for proposal, has a defined project telescopic, deliverables, drawings, and specifications. The design of the projection is consummate, or equally consummate as information technology volition exist, and the owner is looking for pricing. An RFP may be sent out to select contractors later on an RFQ is used to choose the puddle.

An ITB, or invitation to bid, is often sent by general contractors to invite subcontractors and suppliers to bid on a project. Its purpose is to publicize the projection and inform contractors about the information they need to bid on the projection and admission the documents.

Iii keys to responding to an RFQ

1. Read the RFQ document advisedly.

It can be tempting just to skim an RFQ, especially when you're busy bidding on other projects. But it pays to review these documents carefully, so you know how to organize your response and what information is being requested. Yous want to pay attention to project and client details, the scoring matrix, projection requirements, and response requirements, such as the length and preferred format. Additionally, annotation the submission appointment and fourth dimension and how the owner wants the response submitted. Missing small-scale details can put you out of the running before you fifty-fifty get started, wasting all your time and endeavor.

2. Respond to each detail in the RFQ and provide the information requested.

Make sure you use the same numbering and headers for your responses. Also, don't include added information unless it is pertinent to the project. Many RFQs take a length requirement and added information could put yous over the limit and disqualify you.

3. Customize your response as much as you can.

It tin can exist tempting to develop a boilerplate RFQ response and just send it out for each project. However, projection owners are looking for proof that you empathize their project and their mission, and a boilerplate response won't show that. There are some parts of the response that yous may be able to copy from one RFQ to another, but more often than not, the content should exist original for each project. Researching your potential client and their project will assistance you craft your response and customize it to their needs.

What to include in an RFQ response

General contractors are often the ones replying directly to an RFQ. Subcontractors may be involved in the process if the GC is submitting a whole project team in response to the asking. Each projection volition take dissimilar requirements, so we accept listed possible items that may be requested. Check your RFQ for project-specific requirements.

Projection feel

Nigh RFQs will asking information on similar projects you lot have performed. Y'all desire to make sure you highlight those that have a comparable scope or are of a similar size. If you don't have a specific project that is similar, include your best work or largest project.

Include photos that highlight your work. It's a good idea to invest in high-quality images for critical projects that you'll want to include in your RFQ responses. Provide a brusk description of each project and include contact information for your client as a reference.

Key personnel resumes

Provide resumes for key employees that volition be potentially working on the project. You want to include employees who have worked on projects of related type and scope. Include your project managers, superintendents, skilled trades, and anyone with unique credentials that volition be needed on the project. Highlight their experience on similar projects and their skill sets.

If y'all are submitting an RFQ with a complete project squad, you'll want to include resumes from fundamental subcontractors with your response. Subcontractors should provide a one-to-two-page document that shows their project experience and provides short resumes for their key personnel.

Project schedule

RFQs may request a proposed schedule for the project, including pregnant milestones. If this is the case, you lot'll have to reach out to subcontractors to get an idea of their piece of work duration. You may besides be asked for a completion appointment or the duration of the project in days.

References

Most qualification requests will inquire at least three references. Yous want to include people who were happy with your piece of work. Include references from the projects you highlighted in your experience and any additional references that may be of high value, such as larger clients.

Insurance document

The RFQ may spell out the insurance requirements for the project and request that you include a certificate showing that y'all have the limits requested. Make sure that you're in compliance earlier submitting an insurance certificate with your RFQ.

Contractor's license

In about states, contractors are required to be licensed and registered. You'll want to include proof that you are licensed and bonded equally required by the land where the project is located. Moreover, if it's pertinent to the job, include specialized licenses like electrical or plumbing.

Financial statements

Potential customers desire to ensure that the contractor they select is financially stable and has the cash flow to take on their project. They may asking that y'all provide one to two years of reviewed or audited financial statements. Usually, these demand to exist produced past a CPA.

Bonds

Some RFQs may asking that yous provide a bid bond. This type of bond guarantees that you'll go to contract for the amount of your bid. These normally aren't required for an RFQ, unless y'all're turning in pricing besides.

If the project is bonded, you may be required to turn in a bonding capacity letter. This is a alphabetic character from your surety or insurance company letting the possessor know how large of a bond they're willing to produce for you. There are customarily two amounts given in a bonding capacity alphabetic character: per projection and aggregate. Clients volition exist interested in your power to bail more than their projection is worth and ensure that you lot haven't met your overall bonding limit.

Safety manual or policy

Prophylactic and health are important to all clients, and then yous may be asked to provide a copy of your safety transmission or policies and so the owner tin review them with your qualifications. It's a skillful idea to accept a shortened version that you include with RFQs, so you don't run out of space.

Y'all may also exist asked to include your EMR rating. You go this from your workers' compensation insurance company, and it's a measurement of your safety record.

Drug and alcohol policy

Potential clients may request a copy of your drug and alcohol policy to ensure that your policies comply with land requirements and match theirs. You tin provide a shortened version that hits the high points.

Putting your best foot forrad

An RFQ response should shine the light on your company's abilities to perform the project and put the potential customer at ease, knowing that you have the required experience and knowledge to provide them with a nifty projection.

Read the RFQ document carefully, provide the requested information, and answer questions as clearly as possible. Think almost what the potential client needs and what's most important for them and tailor your responses to meet those needs. If yous do this consistently, you're sure to go selected to bid on many projects.

To find more projects to bid on, check out the tools on PlanHub today.

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Source: https://planhub.com/blog/responding-to-an-rfq-what-general-contractors-should-include/