Month: March 2022

The major steps in the construction contracting process include bid solicitation, bit preparation, bid submission, contract award, and contract administration. Before the bidding process can take place, the developers of the project must assess the requirements and feasibility of the project and have the plans approved and other necessary documents prepared so the contractors can…

The construction industry including design, new and renovation construction, manufacturing and supply of building materials and equipment is one of the largest economic sectors in the US. Historically the industry accounts roughly for 4.3% of GDP and employs some 7.5 million people as of 2021. Annually U.S. new construction volume has exceeded $1.5 trillion in…