Bond Readiness Programs

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Education Advisory Services

One-on-One Advisory Services

 
 

Personalized, one-on-one advisory services are offered concurrently with the class curriculum. The one-on-one consultations begin with an initial assessment of each contractor based upon detailed criteria. The initial meeting reviews the company's history, ownership, background, capabilities, and assessment of successful work performance.

Once a baseline profile is established, subsequent advisory meetings focus on a full review and assessment of the following ten components:

  1. Firm's current financial situation
  2. Principal(s)' credit history, both personal and corporate
  3. Past bonding history, if any
  4. Cost records management and billing practices
  5. Accounting systems
  6. Key personnel and staff
  7. Vendor relationships
  8. Equipment inventory (and/or access to equipment)
  9. Professional relationships: accounting, legal, banking, etc.
  10. Management philosophy and goals

The next step in the one-on-one advisory process is to determine if the contractor is bondable at any level or what action plan and steps are needed to obtain the first bond and/or bond line. Generally, the advisor creates an action plan for the contractor to reach their optimal bond program. The advisor continues to monitor and provide continuous feedback against plan, and provides one-on-one consultation as necessary to assist in execution of the plan. Where necessary, the advisor provides support and referral resources in order to facilitate progress.

In most cases, a contractor may not initially understand the myriad of issues associated with bonding readiness. MBDI's one-on-one consultative assistance with organizational infrastructure, firm presentation and document preparation will combine to better position these firms for bonding submission. In addition, the firms will develop a greater sense of the potentially serious ramifications associated with securing a bid bond and the need to proceed cautiously and purposefully. Ultimately, the goal of the regularly scheduled one-on-one sessions (which will be tailored to the specific needs of each individual firm), is to improve and strengthen broad-based managerial, operational and financial functions for long-term and sustainable growth.