Contractors Evaluation

Basic Rules

Hiring a contractor simply based on the price alone may end up in a problem. The cheapest may not be competent and the costliest may be over-competent for your needs.

Select the Right one.

To assess the true worth of a contractor, consider the following factors:

• Technical Competence: Evaluate the contractor’s experience in handling projects similar to yours. Verify that the contractor holds the necessary licenses to perform the work legally and to industry standards.
• Financial Capacity: Review financial statements and records to ensure the contractor is financially sound. Check the contractor’s history with suppliers and financial institutions to understand their ability to secure necessary materials and services.
• Machinery Owned: Inspect the machinery and equipment owned by the contractor. Check if the contractor uses modern technology and equipment that meet current industry standards for safety and efficiency.
• Competence of the Team: Review the qualifications, certifications and experience of key team members. 
• Past Track Record: Examine the contractor’s portfolio of completed projects.