There are widespread reports of contractors returning to ‘survival bidding’ where bids for projects are submitted at or below cost. While cheaper prices are something that most consumers want – a below-cost bid for a construction contract can have devastating consequences for a building investment client or property developer, and the entire supply-chain.
In this webinar, we will explore the reasons why a contractor would want to adopt such a bidding strategy, and look at the consequences for clients and stakeholders in a project. The webinar will look at ways in which clients can protect themselves from the key risks, and how effective due-diligence can reduce these risks.
The webinar event will be hosted and run by our experts Amanda Bucklow and Charles O’Neil. The event will include a ‘breakout room’ session straight after the talk to allow you to explore and discuss the ideas raised with other professionals in the CIG team.
At the end of the Masterclass session you will have a good understanding of:
- What is ‘survival bidding’
- Why would contractors adopt this bidding strategy
- Practical implications and key risks for clients
- Potential upsides of a more competitive bidding environment
- Effective due-diligence of contractors and the professional team
- Impact of procurement processes and contract arrangements
The Event will be held on Thursday 22nd October (11:00 – 12:00 BST)
Tickets are available to purchase on eventbrite via the below link: