2013 TURNER SCHOOL OF CONSTRUCTION MANAGEMENT

PROGRAM BACKGROUND

The Turner School of Construction Management (TSCM) for Small, Minority, Women, and Disadvantaged Businesses is the oldest community outreach program in Turner’s history. Initiated in 1969, the program has since become an opportunity to develop strategic business relationships with M/W/S/DBE firms. Today, TSCM is offered in more than 30 of Turner’s offices nationwide.
 

THE TSCM ADVANTAGE

Attending the Turner School of Construction Management provides the following advantages:

Develop a relationship with Turner and learn how to do business with a larger contractor

Develop a relationship with the partners of Turner School

Enhance your managerial, technical and administrative expertise

Classes are offered free of charge

Learn how to make your company more visible to larger contractors in order to be more competitive

                Participants gain access to Turner’s Online University for additional courses

           Graduates receive a Certificate of Completion which can be sent to contractors to verify that you are a qualified subcontractor

 

2013 TSCM AT METRO HEADQUARTERS

This year, the Turner School of Construction Management is sponsored by METRO and Union Bank, in collaboration with Southern California Edison, Los Angeles Minority Business Development Agency, National Association of Minority Contractors, Los Angeles World Airports, Los Angeles City Bond Assistance Program and Southern California Minority Supplier Development Council.

 

METRO HEADQUARTERS

UNION STATION ROOM

ONE GATEWAY PLAZA

LOS ANGELES, CA 90012

7-WEEK PROGRAM

EVERY TUES & THURS*

APRIL 2** - MAY 17 2013

6:00 - 9:00 PM

*includes one Wednesday class

** Kick-off Reception at 4:30 pm in the Gateway conference room.

Parking available for $6

Please direct inquiries & email registration form to:

Turner Construction Company 555 South Flower Street, Suite 4220

Los Angeles, CA 90071 Tel 213.891.3171 Email: socal@tcco.com

Confused About Bonding?

Here is a quick overview of bonding.

Bonding a contract has been a requirement for most construction related government contracts. However, more and more service contracts and occasionally supply contracts are requiring surety bonds for both public and private projects. Also more prime contractors are requiring their sub-contractors to bond, as well. Exactly what is a "surety bond?" It is a three-party arrangement between the surety, the owner of the project, and the contractor. The surety guarantees that the contractor will complete the project in accordance with the contract documents issued by the owner. Surety companies are usually subsidiaries of insurance companies, but unlike traditional insurance which compensate for unforeseen events or losses, surety is designed to prevent a loss. Typically there are three types of bonds required for public and some private contracts. There are: 1)Bid Bond - Ensures that the bidder has submitted the bid in good faith and will enter into the contract at the price quoted and is capable of providing the required performance and payment bonds. 2)Performance Bond - Ensures that the contractor will complete the contract per the terms and conditions sited in the contract. The bond protects the owner from financial loss should the contractor not satisfactorily meet the requirements of the contract. 3)Payment Bond - Ensures that all suppliers, subcontractors, and labor associated with the contract are paid. Traditionally bonding can be difficult to obtain for a small business, especially when they are first starting to compete in the public and private sector. There is some hope, though. The U S Small Business Administration oversees a Surety Bond Guarantee Program that assists small businesses obtain bonding. (See the following article to learn more about recent changes to the program.) Also, there are companies that have recognized the difficulties that small businesses have when trying to secure bonding and are creating programs that are based on experience and character rather than on financial profile. The Orange County SBDC can help you through the bonding process to identify a program that is right for your business. In addition, we can assist you to access your financial resources to perform on a specific contract and if needed, assist you to secure working capital for that project. If you are an experienced business owner currently pursuing publiv and private contracts, call 714.564.5200 to learn more about our bonding and financing assistance.

SBA Announces Revisions to Surety Bond Guarantee Program

More small businesses will have access to larger contracts.

U. S. Small Business Administration (SBA) recently announced a major revision to their Surety Bond Guarantee (SBG) Program. The new provision more than triples the eligible contract amount from $2 million to $6.5 million that the Agency will guarantee on surety bonds for both public and private contracts. These new higher limits will help small business construction and service providers to have greater access to larger contracts. "These new contact ceilings are one more way we can help small businesses, particularly in the construction and service sectors, compete for and win critical contacting opportunities that help them grow their businesses and create jobs," SBA Administrator Karen Mills said. "Additionally, these changes, which are enthusiastically supported across the surety industry and small business community, will help spur economic growth and recovery in areas that have been hard hit by disasters, bringing jobs and economic activity to regions at a time when it is needed most."   The revisions are a result of the Fiscal 2013 National Defense Authorizations Act and are expected to increase surety bond agents and brokers and their surety companies to increase participation in the SBG Program. In addition, the changes increases the government contact value up to $10 million that SBA can guarantee if a contracting officer of a federal agency certifies that the guarantee is necessary for the small business to obtain bonding and if it is in the best interest of the government. SBA partners with the surety industry to help small businesses that are not able to obtain bonding in the commercial marketplace. Under the partnership, SBA provides a guarantee to the participating surety company of between 70 to 90 percent of the bond amount if the contractor was to default or fails to perform.