Risk Mitigation Sub Prequalification Procedures
1. Building Connected (BC) is the most current and up to date information as it pertains to subcontractors being financially prequalified with LCI to receive contracts over 300K. This means they may have a master agreement, been SDI approved and proper insurance amounts have been agreed too. The status box in BC will indicate “Qualified” when the preceding conditions have been met. 2. Estimators when preparing a bid list in BC should verify the subcontractors have a “Qualified” designation in the status box. If the status box indicates “Invited to Qualify” LCI has already sent them a prequalification package. If the status box indicates “Application Submitted” the subcontractor has submitted the requested information to the LCI Contract and Insurance Administrator, and it is under review. Once the package has been reviewed and approved, Trade Tap will automatically update BC to show them as Qualified. Last, if the status box indicates “Not Invited to Qualify” the subcontractor has never been invited to be prequalified. 3. If the subcontractor has never been invited to be prequalified, the estimator or other persons generating the bid list can click on the “Invite to Qualify” hyperlink and a package will be sent out to the subcontractor automatically. The LCI Contract and Insurance Administrator will take it from there and review the submission to decide if its approved or denied. If a subcontractor has been denied the status box will show “Qualification Denied”. Please note, you should only invite those subcontractors to become prequalified that we normally invite to bid on our projects that have never been “Invited to Qualify” (LCI pays a fee for having them financially vetted). 4. When reviewing proposals internally with the estimating and operations team it is important to note if the low qualified subcontractor being carried in column “L” on the BDR is prequalified/preapproved. If they have been prequalified/preapproved highlight the dollar amount in green under their name on the sub-recap sheet. Do not highlight the subcontractor name since doing so will override the MBE/WBE status color coding. 5. It is also important to note that Leopardo only financially prequalifies those subs with the potential to be awarded contracts over 300K . We do not require subs issued contracts below this threshold to submit financial documentation. You may still award a contract under 300K to a sub who has not been financially prequalified.
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