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SuretyAssist™

Overview

SuretyAssist™ is a software application that assists purchasing organizations in evaluating contractor commercial capabilities. This new and innovative tool provides a structured and systematic approach to the assessment of contractor capital, capacity and character. The application provides purchasers with a transparent and auditable process for prequalification of contractors in the critical areas of commercial and corporate ability. SuretyAssist™ has been integrated to the existing CQN Advantage suite of software to provide the most comprehensive contractor prequalification tools available online.

SuretyAssist™ was developed by researchers at the Hole School of Construction Engineering at the University of Alberta in collaboration with the Surety industry. The Hole School of Construction Engineering is one of the world’s top programs in construction management. Its mandate is to carry out industrially relevant research to help solve problems and deliver innovation to the Canadian construction industry in the form of technology transfer, education and training.

CQ Network is the sole provider of the SuretyAssist™ technology under an exclusive agreement with the University of Alberta.


Features

  • Structured, organized & objective approach
  • Comprehensive – considers all relevant factors
  • Demonstrates process to owner
  • Decreases subjectivity in the evaluation process
  • Documents and validates underwriting decisions
  • Identifies areas for contractor improvement

Evaluation Criteria

Character

  • Past Performance
  • Experience
  • Reputation
  • Relationship with Owner
  • Competitiveness
  • Project Overruns

Capital

  • Financial Stability
  • Financial Statement Quality
  • Long Term Debt
  • Cash Flow Projection Plans
  • Accounts Receivable / Payable
  • Credit Rating

Capacity

  • Management Capability
  • Organizational Structure
  • Business Planning
  • Continuity Planning
  • Maturity & Size
  • Ownership Characteristics
  • Resource Availability
  • Safety Policy
  • Current Work Load
  • Schedule of Contracts
  • Amount of Subcontracted Work
  • Project Size & Type
  • Project Complexity & Location

CQ Network is a proud supporter of continued corporate and academic partnerships
that bring leading-edge technology development and innovative software solutions to industry.


Download a copy of the Product Data Sheet here.