Negotiated / Preferred Contractor
NEGOTIATED BID PROCEDURE
To expedite a project an owner may choose the negotiated bid procedure. A contractor, recommended by others such as an architect or another satisfied client, enters into an agreement with the owner to provide an estimate before documentation of the project is complete. Design Drawings are submitted to the contractor for an initial estimate of the cost of the project. After establishing a budget based on the preliminary estimate, the Architect completes a full set of Architectural Drawings including structural, mechanical and electrical elements. A fixed “not to exceed” or a “cost plus a fee” contract is then negotiated between owner and contractor to complete the project.
Benefit: With the early establishment of a budget and the selection of a contractor, a project can be completed in a shorter time period than with the standard bid procedure.
TBC Commercial has been highly successful in the Negotiated Bid Procedure. By maintaining a successful and on going relationship with previous owners, architects and associates, many of our projects are developed under this procedure.
Contracts awarded to TBC Commercial by negotiated bid procedures include tenant improvements, misc. facility changes and relocations, new building construction, standard and “fast track” renovations of small retail and big box retail. The owner’s of HEB Stores and Brands depends upon TBC Commercial for on going renovations from the thousands of dollars to major “fast track” renovation of major stores and facilities totaling over three million dollars including major renovations of up to seventy thousand square feet.
TBC also maintains “work order” time determinate contracts with our clients which are negotiated before and often time during, minor and major renovations/changes to departments or utilities. By developing an ethical and fair approach in the negotiating process this work mutually benefits both our clients and our company. Project accounting under the work order “contract” is open to our clients to assure those in fiduciary responsibilities that their investment is justly spent with a fair profit margin to TBC negotiated/agreed and charged accountably before the work is even completed.