When the time comes to hire an electrical contractor for your next commercial, industrial, health care, retail or education project, there are lots of things to consider—from their experience with similar projects, to their overall capabilities, their commitment to safety, the merits of the bid they submit, and much more. But one element you don’t want to overlook is the financial stability of the contractor.
The reasons behind this may seem obvious. But there are four important characteristics of financially stable electrical contractors that make them a solid choice for your next project.
1. Accuracy. General contractors and end-user construction supervisors have so much on their plates; one thing they don’t need is unwanted surprises that result from faulty or incomplete estimates. To ensure that our project estimates reflect the true scope of work we intend to perform, RJ Martin Electric utilizes state-of-the-art estimating software – Accubid® and Accubid LiveCount™ – for every electrical contracting project we pursue.
Our Accubid estimating software allows RJ Martin Electric estimators to access over 40,000 items and 9,500 assemblies online. Accubid LiveCount, meanwhile, allows RJ Martin Electric estimators and field supervisors to pull up drawings electronically anywhere, anytime. This helps improve data security by keeping plans in one secure and easily accessible digital warehouse; and it further reinforces accuracy and trackability of estimates and costs throughout the duration of a project.
Accubid and Accubid LiveCount represent a substantial investment by RJ Martin Electric—and not all electrical contractors are willing to make that investment. Yet, through the use of Accubid and Accubid LiveCount, our estimates are detailed down to the screw. And for GCs and end users, that means extremely fast and accurate estimates, where no detail is overlooked, and no unpleasant surprises arise during construction projects. (For more information on our estimating process and resources, read our recent blog on this topic.)
2. Trustworthiness. Think about it: An electrical contracting firm that doesn’t have financial judgments against it, pays its bills on time, delivers accurate estimates, shows up to the job when it says it will, does the work it’s contracted to do, communicates clearly and regularly with the GC and other subcontractors and maintains a drug-free workplace and a stringent safety program is worthy of being trusted. And with so many variables in any construction project, it’s comforting (or put another way, one less worry) for GCs and end users when they can trust the electrical contracting firm they hire.
3. Honesty. Related to trustworthiness, an honest electrical contracting firm sticks to their word, delivers work on time and on budget as per the specified work scope, doesn’t mince words and doesn’t renege on promises made.
4. Credit-worthiness. Credit is an ongoing need for contractors in any field, and electrical contracting is no exception. Electrical contractors need credit to purchase supplies and tools for their daily work. If the electrical contractor you hire doesn’t have good credit with different vendors – from parts suppliers to tool shops and home improvement stores – they could potentially cause project delays until they can raise cash needed for immediate purchases.
Additionally, it’s important to know that GCs and/or end users could potentially face liens against their property if the electrical contractor they hired fails to pay their vendors or subcontractors. This could compel a GC or end user to pay those vendors or subcontractors, while still facing their contractual payment obligation to the electrical contractor. These are issues that any GC or end user would want to avoid. The easiest way to do so is by checking the credit-worthiness of the electrical contractor they are considering for the job.
Contact RJ Martin Electric to learn more.
We hope this blog helps give you some insight on why it makes good sense to hire a financially stable electrical contractor. If you’re looking for an exceptional electrical contracting firm for your next project, or if you want information about RJ Martin Electric’s experience in industrial, health care, commercial, education and retail markets, please call Robert J. Martin at 216-662-7100 or email email@example.com.