Pre-qualification
A process of evaluating contractors or suppliers to determine their capability to perform on a project before allowing them to bid.
Pre-qualification evaluates potential contractors' ability to perform a specific project, ensuring they meet required standards and capabilities. It is crucial for selecting qualified bidders, reducing the risk of project delays, and enhancing overall project quality. By assessing financial stability, experience, and expertise, pre-qualification helps owners identify the most suitable contractors, fostering successful project outcomes and minimizing risks associated with underperformance.
Used in a sentence
Contractors went through pre-qualification to be eligible to bid on the project.
Synonyms/variation
Qualification
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How to Qualify for Government Work as a Prime Contractor
Every year, the federal government awards billions of dollars to prime contractors to perform work. Since Congress passed the Infrastructure Investment and Jobs Act in 2022, billions more will be awarded in projects in the years ahead. Becoming a prime contractor can set you up to handle this work. The federal government鈥檚 goal is to […]
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