| General
Contractors
As a general contractor, your mission is to manage a
challenging process of coordinating many entities simultaneously to complete a given
project. This challenge becomes extreme when your sub-contractors
are not honest, legitimate and compliant. Why take the chance? We offer
general contractors a rating service that provides a review of all sub-contractors. Your end customer needs to ensure that your
process of completing a job is not hindered by any piece of the
equation. A rating for your organization and your sub-contractors is
a strong solution.
Trade / Specialty Contractors (e.g. Roofing
Contractor)
A contractor has a formidable challenge in the
industry due to the large number of competitive businesses. To offer prospective clients a
true picture of your business through a qualified rating is extremely valuable. This
rating ensures that you meet certain standards in the industry which will increase the peace of
mind of the prospective customer.In addition, if your business attains a
Laborindex rating you will be working to help remove competition
with illegitimate contractors. Let the customer make
the most educated decision through your Laborindex rating and your business portfolio.
Unions & Associations
Association members are a direct reflection of
the association itself. Members must abide by certain rules and guidelines.
Laborindex will help differentiate a good associate member from a shady
contractor. By doing so, it is possible to remove contractors who don't
uphold certain operating standards set forth by associations. Laborindex will
become a member of all credible associations to support their means.
The Laborindex rating system can work hand-in-hand
with unions who are working toward the day when union labor and their customers can
shake hands and trust one another.
As a business that verifies the "good
standing" of the construction industry, Laborindex works with all contracting
trade unions to protect the "good guys" and help eliminate those
contractors who are doing business fraudulently.
Architects & Engineers
It has
been said that: "It is an engineer's job to make an architect's vision
reality." If this is true, and it is in many cases, it
logically follows that "It is a contractor's
job to make the engineer's vision reality."
The engineering community is 100%
dependant on the ability of the contractor to implement the designs
produced by the engineer.
Time and expense that is saved by the design/build
process can quickly be lost at the hands of an illegitimate contractor.
The Laborindex
rating system provides another tool to verify the facts of contractor ability to operate in a
legitimate, compliant manner. The tool allows the architect / engineer / contractor relationship
to operate "full circle" and ensures that each project performs
as close to specifications as possible.
Suppliers / Vendors
The vendor-contractor relationship is crucial for the
construction industry. There is nothing worse than a project shutdown due
to lack of material delivery. Vendor feedback in the Laborindex system is part of
the process that determines whether a contractor is legitimate. Using a Laborindex rating, a vendor can
determine whether or not
the contractor pays in a timely manner.
Property Management Firms / Condo Associations
A major challenge for a residential and commercial real
estate group is to build quality structures, whether it is a home, mall,
etc., have the
contractors work together in a seamless process without any external factors affecting the
outcome.When a general contractor approaches you with their intent to bid on the job,
your challenge is to make sure that contractor's reputation, track record, and
business operations are consistent with yours. The general contractor and
his sub-contractors can be considered a direct reflection of the way that your real
estate firm operates.
With an accurate, detailed ratings of the
general contractor you are simplifing your decision on who should be
used. Once you have chosen a general
contractor ask if the sub-contractors they use have been rated through the Laborindex system.
Banks / Lending Institutions
Lending for the construction industry is a
continuous challenge for underwriters. This challenge stems
from an industry that changes frequently, has multiple sub-industries, and is governed by
regulations that make it very challenging to grow and prosper.Due to the fact that the research and rating
of a contractor is difficult, Laborindex offers our services to act
as a strong
reference and basis for commercial lending. We are not in the
business of signature lending, but we are in the business of
providing an accurate assessment of the business information for an industry that a bank
may not be able to
keep up with.
Insurance Carriers / Brokers
The insurance industry is a significant player in the
construction industry due to their involvement before and during a project. A challenge
for an insurance organization is to accurately assess a business that is searching for
coverage on business operations outside of insurance.A contractor's financial standing,
their legal structure, and their relationships with other business professionals many
times dictates the pricing of coverage levels and the comfort for underwriting the
insurance.
Our group can work with the insurance group
to furnish their underwriters with the necessary information needed
to enhance the process and accuracy of the approval process.
Government (Local, State, Federal)
Local and state government construction divisions have a
major challenge when evaluating contractors. Most government offices simply perform a
police background check and verify a bond prior to the issuance of a license. Rarely is
there an ‘evaluation.’What
Laborindex offers to local and state governments is the ability to evaluate and act as a validation point prior to the issuance of a
license. In addition, our group can add specific measurements to increase the
effectiveness of the licensing process.
Our interviews with government officials have offered the following:
- Their office has a difficult time keeping
up with the changes in the construction industry
- Their credibility can be tainted because
of poor contractors working within their area
- To ‘outsource’ the evaluation function
saves them money
- A more refined licensing process helps to raise the quality bar for contractors
If you are interested in having your
contractor evaluation process reviewed, please contact our office by
phone (847 526 2773) or via the Internet (info@laborindex.com).
Homeowners
As a homeowner, you are the most likely to
fall prey to a shady, fraudulent contractor. Since the residential
construction market is regulated by a loose set of rules, the resident is
left assuming that the contractor will perform as expected.
Here is a brief list of the challenges a homeowner faces prior to
selecting a contractor:
- Phone book ads, listing years in operation as an
example, are never verified for their accuracy by the publisher
- Many communities are run as "non-home
rule," which means your local community does not even
license the contractors working in town. Towns over the size of
25,000 residents usually license contractors but do not verify their
legitimacy. They only verify that they carry some insurance and
a surety bond. The bottom line is, any contractor can get insurance
and a bond, even the crooks!
- Even though a contractor claims to be insured,
bonded, and licensed, that may only apply to a certain number of
towns. To comply locally, a contractor must submit information
to the local town, prior to showing up at your door. If not,
they may be breaking the law!
There are many other examples of why it is risky to
use any contractor. To protect yourself, and give you the piece of mind
that you deserve, make sure that all contractors carry a current
Laborindex Rating!
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