10 Things You Should Know About Surety Bonding

Reprinted from suretyinfo.org

Making the right choice to mitigate and manage risk on construction projects and selecting the most fiscally responsible option to ensure timely project completion are imperative to a successful project - and a sound business. Gambling on a contractor or subcontractor whose level of commitment is uncertain or who could become bankrupt halfway through the job can be an economically devastating decision. Surety bonds offer the optimal solution: providing financial security and construction assurance by assuring project owners that contractors are capable, in the surety’s opinion, of performing a construction contract and paying specified subcontractors, laborers, and material suppliers.

1. A surety bond is a three-party agreement where the surety company assures the obligee (owner) that the principal (contractor) will perform a contract. Surety bonds used in construction are called contract surety bonds.
2. There are three primary types of contract surety bonds. The bid bond assures that the bid has been submitted in good faith, that the contractor intends to enter the contract at the price bid and provide the required performance and payment bonds. The performance bond protects the owner from financial loss in the event that the contractor fails to perform the contract in accordance with its terms and conditions. The payment bond assures that the contractor will pay certain workers, subcontractors, and materials suppliers.
3. Most surety companies are subsidiaries or divisions of insurance companies, and both surety bonds and insurance policies are risk transfer mechanisms regulated by state insurance departments. However, insurance is designed to compensate the insured against unforeseen adverse events. The policy premium is actuarially determined based on aggregate premiums earned versus expected losses. Surety companies operate on a different business model. Surety is designed to prevent loss. The surety prequalifies the contractor based on financial strength and construction expertise. The bond is underwritten with little expectation of loss.
4. In 1984 Congress passed the Heard Act to protect federal projects from contractor default and protect subcontractors from nonpayment by contractors. The Heard Act was supplanted by the Miller Act in 1935, which basically requires performance and payment bonds in excess of $100,000 and payment protection for contracts between $30,000 and $100,000. A corporate surety company issuing these bonds must be listed as a qualified surety on the Treasury List. Also, almost all 50 states, the District of Columbia, Puerto Rico, and most local jurisdictions have enacted similar legislation requiring surety bonds on public works. These generally are referred to as “Little Miller Acts.” Owners of private construction also manage risk by requiring surety bonds.
5. Construction is a risky business. Of 1,424,124 contractors in business in 2007 only 969,937 were still in business in 2009 - a 31.9% failure rate. Surety bonds offer assurance that the contractor is capable of completing the contract on time, within budget, and according to specifications. Specifying bonds not only reduces the likelihood of default, but with a surety bond, the owner has the peace of mind that a sound risk transfer mechanism is in place. The burden of construction risk is shifted from the owner to the surety company.
6. Surety bond premiums vary from one surety to another, but can range from 0.5% to 2% of the contract amount, depending on the size, type, and duration of the project and the contractor. Typically, there is no charge for a bid bond if performance and payment bonds are required on the project. In many cases, the cost of a payment bond and a 12-month maintenance bond is included with the purchase of a performance bond.
7. The surety company’s rigorous prequalification of the contractor protects the project owner and offers assurance to the lender, architect, and everyone else involved with the project that the contractor is able to translate the project’s plans into a finished project. Surety companies and surety bond producers have been evaluating contractor and subcontractor performance for more than a century. Their expertise, experience, and objectivity in prequalifying contractors is one of a bond’s most valuable attributes. Before issuing a bond, the surety company must be fully satisfied that the contractor has, among other criteria:
   • good references and reputation;
   • the ability to meet current and future obligations;
   • experience matching the contract requirements;
   • the necessary equipment to do the work or the ability to obtain it;
   • the financial strength to support the desired work program;
   • an excellent credit history; and
   • an established bank relationship and line of credit.
8. Contractor default is an unfortunate, and sometimes unavoidable, circumstance. In the event of contractor failure, the owner must formally declare the contractor in default. The surety conducts an impartial investigation prior to settling any claim. This protects the contractor’s legal recourse in the event that the owner improperly declares the contractor in default. When there is a proper default, the surety’s options often are spelled out in the bond. These options may include the right to re-bid the job for completion, bring in a replacement contractor, provide financial and/or technical assistance to the existing contractor, or pay the penal sum of the bond. That owners have been shielded from risk is evidenced by the fact that surety companies have paid more than $10.1 billion due to contractor default since 1995, according to The Surety & Fidelity Association of America, Washington, DC. In 2009, the surety industry paid more than $84.4 million in losses on private construction and more than $1.6 billion since 1995.
9. When bonds are specified in the contract documents, it is the contractor’s responsibility to obtain them. The contractor generally includes the bond premium amount in the bid and the premium generally is payable upon execution of the bond. If the contract amount changes, the premium will be adjusted for the change in contract price. Contract surety bonds are a wise investment - providing qualified contractors and protecting public owners, private owners, and prime contractors from the potentially devastating expense of contractor and subcontractor default.
10. After analyzing the risks involved with a construction project, consider how surety bonds protect against those risks. Owners, lenders, taxpayers, contractors, and subcontractors are protected because:
    • The contractor has undergone a rigorous prequalification process and is judged capable of fulfilling the obligations of the contract;
    • Contractors are more likely to complete bonded projects than non-bonded projects since the surety company may require personal or corporate indemnity from the contractor;
    • Subcontractors have no need to file mechanics’ liens on private projects when a payment bond is in place;
    • Bonding capacity can help a contractor or subcontractor grow by increasing project opportunities and providing the benefits of assistance and advice of the surety bond producer and underwriter;
    • Surety companies may prevent default by offering technical, financial, or management assistance to a contractor; and
    • The surety company fulfills the contract in the event of contractor default.

For more information about bonding, visit Surety Information Office. 

Turner School Classes to Begin in LA

http://2014-tscm-session-one.eventbrite.com/

Director's Message

As the holidays season gets into full swing and another year draws to a close, it is nice to reflect on what we have learned throughout the year and what we hope to achieve in the year to come. When I think about 2013, the overwhelming sense I have is one of gratitude. I want to pause for a moment and give thanks to you, our loyal clients, corporate and community partners, friends, and colleagues for allowing us to work alongside you and to serve the small business community.

Looking ahead to 2014, as a leading small business resource in Southern California, we remain committed to small business success and will continue to expand our services and develop new offerings designed to assist small businesses connect to opportunities, and help them thrive.

It is our sincere hope that this holiday season will find you surrounded by the people that matter most and we wish you blessings, happiness, and prosperity.

Best wishes,

Leila Mozaffari

Director

Orange County SBDC

State of California • Department of Transportation

INFORMATIONAL NOTICE

___________________________________ _
CONSTRUCTION PRIME CONTRACTORS AND SMALL BUSINESS OWNERS ARE INVITED TO A
Mandatory Pre-Bid Meeting for Contract No. 12-OF96E4 A High Occupancy Vehicle (HOV) lane widening project on Interstate 5 in the cities of San Juan Capistrano, Dana Point and San Clemente, in Orange County, from 0.4 miles north of Camino de Estrella overcrossing, to 0.2 miles south of San Juan Creek Road undercrossing. Please click on the link for further information: http://www.dot.ca.gov/hq/esc/oe/weekly_ads/all_adv_projects.php

Attendance is MANDATORY for those interested in bidding.
Please note new date: Monday, October 7, 2013
1:30 pm to 3:30 pm 

Prudential Building

3333 Michelson Dr.

Ground Floor Auditorium

Irvine, CA 92612

(near Caltrans Headquarters)

 

 

This meeting is an important opportunity for Certified Small Businesses, Disabled Veteran Business Enterprises, and Disadvantaged Business Enterprises to network with prime contractors who plan to bid on this project. The meeting will present partnering opportunities for prime contractors and subcontractors and allow them to meet and develop relationships that enable successful bidding on this project and future projects. 





 

 

If you plan to attend, please RSVP:
Elizabeth Philippon, Caltrans District 12 Small Business Liaison
(949) 724-2021
Parking is available in Parking Garage #1, located to the north, behind the Prudential Building.
Cost for parking is $5 per hour, with a maximum of $20 per day.

Caltrans, Your Partner For Success

For information and to register...

Selling and Security Forum

 

 

 

 

Selling and Security Forum

Los Angeles, CA - Thursday, September 26, 2013

  

Panels and Face-to-Face Meetings with:

 

U.S. General Services Administration U.S. Department of Veterans Affairs U.S. Air Force U.S. Department Homeland Security Federal Aviation Administration CA Dept. of General Services Caltrans CA Dept. of Corrections City of Los Angeles City of Pasadena

LA World Airports Port of Long Beach Par Electrical Southern California Edison Symantec HP Northrop Grumman Lockheed Martin Dun & Bradstreet Credibility Corp. And Many More

 "250 area small businesses will have a remarkable opportunity to meet those who buy products and services for government agencies and major corporations and learn from the law enforcement experts how to avoid becoming a victim of Cybercrime...Don't miss this!"
  - Former Administrator, U.S. Small Business Administration

Start-ups, growing companies, and those already selling successfully will all benefit from this event. There will be procurement presentations by federal, state and local agencies, as well as Symantec, Dun and Bradstreet Credibility Corp, HP, Bank of America and other corporations.

• Government agencies and major corporations need every type of product and service.
• Cyber Crime is invading small business and you can protect your assets.
• There is new access to affordable capital.
• Women, minority and veteran owned firms have more opportunities than ever before.

None of us have time to waste. One day with these experts and your own networking can change the life of your business. These free events have resulted in over $9 billion in contracts granted to small businesses like yours.

  

Location:
Sheraton Universal Hotel
333 Universal Hollywood Drive
Universal City, CA 91608

Date: Thursday, September 26, 2013
Time: 8:30 a.m. - 4:00 p.m. (Check-in starting at 8:00 a.m.)

 

  

Registration and lunch are complimentary.

Registration:

1. Use this custom registration pass code to register your company: XKHSSD
2. Go to www.businessmatchmaking.com/workshopla.shtml
3. Click on the red "Registration" Tab

Please share this invitation with your colleagues and business associates.

If you have questions about this email or Business Matchmaking, please contact us by email at registration@businessmatchmaking.com.

OCTA 2013 Annual Business Expo - Save the Date

 

Register

Corporate Diveristy Matchmaing - Save The Date

For additional information & to register, click here...

 

 

Learn more about the Turner School's upcoming training program.

Contact Connie May or Michelle Ballard

714.940.9000

Clark Strategic Partnership Program

Visit the Clark Construction web site to learn more...

CalCon Expo

CalCon Expo August 22, 2013 Long Beach Convention Center

To learn more or register, visit: CalCon 2013 Meet the Design-Build Primes Matchmaking August 21, 2013 To register, visit: CalCon Mathchmaking (Registration closes 8/9/2013)

Small Business to Benefit From New Federal Rules

Agencies and Prime Contractors to pay more attention to Small Business Subcontractors.

The U. S, Small Business Administration (SBA) is amending its regulations governing small business subcontracting to implement provisions of the Small Business Jobs Act of 2010. The new rules include: Prime Contractors are required to issue notices to contracting officers specifically when they are late in making payments to small business sub-contractors; Prime Contractors must notify contracting officers in writing if they do not use the contractor originally referenced in the submitted bid or proposal; Agency Contracting Officers must monitor the small business sub-contractors' plan performance more closely; Clarifications as to which subcontracts should be included or excluded in data reporting (specifically, Prime Contractors record should be limited to awards made to immediate next-tier subcontractors; credit cannot be taken for awards made beyond the immediate next-tier); Changes subcontracting plan thresholds and updates to the use of the electronic subcontracting reporting system (eSRS); The new rule will be effective August 15, 2013.

Is Your Capabilities Statement Sending The Right Message?

Here is a quick tutorial on how to prepare a Capabilities Statement.

A Capability Statement is a written summary highlighting your company’s overall experience, expertise, resources and specific services or products you provide. The Statement should tell your reader who you are, what you do and why a client should choose you. It should be customized for your target market in much the same way you would your resume. The Statement is a factual presentation of your company and should be one to two pages in length. Your capabilities statement should include: Your logo Address, name of primary contact, phone & fax numbers, and e-mail address NAICS codes Cage code ---- (Commercial and Government Entity code is a five-character ID number used extensively within the federal government. If you don’t have one, it is automatically assigned when you do your SAM.gov registration.) D&B number Certifications (Both certifications such as 8(a) or DBE, but also industry specific certifications such as ISO 9000 or other quality assurance certifications) Provide a business summary – It should be a paragraph that tells your reader who you are & what you do. Capabilities: Areas of expertise – type of work you can do for your client. Use short sentences or bullet statements. This should not be a long narrative about your capabilities or areas of expertise. Facilities and Equipment: -- List all facilities, equipment and resources used to manufacture the products or provide the service(s). Include unique qualifications, techniques and approaches used to perform work, including any state-of-the-art equipment or capabilities that are part of your business. Expertise: --- A brief summary of your expertise, as well as that of your key personnel/staff, highlighting their education and technical experience as it relates to your business. Customers: --- Provide a list of at least three or four of your key customers, past or present. Company names are sufficient. The Capabilities Statement should be on your business stationary and titled Capability Statement. Keep it simple, but tell the reader what makes you special and why they should choose to do business with you. This can be used as a stand-alone document to market your business, or attached to any pertinent literature you may already have. This along with a simple cover letter can introduce your company to any government agency or large business. Once you have your capabilities statement, you are ready to get out there and begin to develop relationships.

How Could the Passage of CA's AB 53 Impact Your Business?

Insurance companies first report is due by July 1, 2013.

Passed in the fall of 2012, AB 53, authored by former Assembly Member Jose Solorio of Orange County, requires CA insurance companies to report on their efforts to purchase goods and services from minority-owned, women-owned, and service disabled veteran-owned business enterprises. The bill mandates that every insurance company collecting over $100 million in premiums in California must report on its outreach efforts to diverse businesses and also designate a person as the point of contact for diverse suppliers that are interested in becoming a supplier to that insurance company. There are just over 200 insurance firms doing business in CA that are required to comply. As also mandated by the bill, the state insurance commissioner is required to establish and maintain a link on the Department of Insurance (DOI) website that provides public access to the contents of each insurer's report on their diversity procurement efforts. The first report from the insurance companies is due July 1, 2013 and the data will be posted on July 31, 2013 at http://www.insurance.ca.gov/. Although insurance companies purchase a myriad of products and services, it is expected that a large portion of the potential spend will be in the area of repairs (both auto and home), advertising and marketing, and computer services.

High-Speed Rail Authority Announces Series of Statewide Small Business Certification Workshops

Orange County SBDC to host HSR Small Business Certification Workshop.

Wanting to insure that all who have registered have an opportunity to complete their Small Business Registration with the State of California, reservations are no longer being accepted for this event. However, there is a networking opportunity that is open to all small businesses that are interested in learning more about the California High-Speed Rail Authority (Authority) and the goals established for small business utilization.   "The Authority is committed to creating opportunities for small businesses with an aggressive 30 percent goal of participation in California's high-speed rail program," said Jeff Morales, Authority CEO. "We have been working to engage small businesses and encouraging them to get involved. Many of our contracts are long-term and will be a big boost economically for small businesses. We want to help small businesses prepare to work on the project." The Authority's Small Business Advocate Robert Padilla added, "The initial construction in the Central Valley is expected to cost $6 billion dollars and a significant amount of that could go to certified small businesses. These workshops are a critical part of the process for the Authority to partner with California's small businesses." Orange County SBDC is proud to host a southern CA workshop.           When: May 15, 2013                              9 AM to 12 Noon -- On-line Certification                              11 AM to 12 Noon -- Networking                  Where: Rancho Santiago Community College Distrist                              2323 N. Broadway, #107                              Santa Ana, CA 92706  For those that have registered for the certification portion of this workshop, your portion of the event will begin at 9 AM.   Workshop participants should bring the following materials with them to the workshop: Applicant/Affiliate Federal Tax Returns for the past three (3) years Federal Employer Identification Number (FEIN) (if applicable) Secretary of State Number (if applicable) Home address of Officers, Member/Manager and Partners Social Security Number (if sole proprietor) Dunn & Bradstreet Number (if applicable) Contractors State License Board Number (if applicable) The Authority will host several more workshops around the state in the coming months. For updates, visit CA High-Speed Rail.

Courts Upholds CALTRANS DBE Program

Ninth Circuit Court of Appeals rules in favor of the California Department of Transportation.

On April 16, 2013 the Ninth Circuit Court of Appeals ruled that the California Department of Transportation's (CALTRANS) equal opportunity program ensures minority and women owned businesses have an opportunity to compete for Department of Transportation (DOT) and related contracts. The program is known as the Disadvantaged Business Enterprise (DBE). The U.S. Court of Appeals for the Ninth Circuit said that CALTRAN's DBE outreach program is clearly within constitutional parameters. In 2009 the San Diego Chapter of the Associated General Contractors of America (AGC) filed a lawsuit challenging CALTRAN's DBE program. They claimed the DBE program was unconstitutional because it provides preferences based on race and sex to businesses owned by African Americans, Native Americans, Asian-Pacific Americans, and women on federal DOT contracts. AGC filed an appeal in 2011 after summary judgment was granted in U.S. District Court. AGC's attorney has indicated that it is likely they will appeal the decision to the Supreme Court. Read the Court's full decision...

California High-Speed Rail Authority Announces Bid Results on Central Valley Construction Project

Groundbreaking expected in 2013.

The California High-Speed Rail Authority (CHSRA) has announced that Tutor Perini/Zachry/Parsons, a Joint Venture, is the best scoring team for the design-build contract for the first section of the high-speed rail system, Madera to Fresno. CHSRA had estimated the cost for the design-build contract to be $1.2 to $1.8 billion. It was determined that Tutor Perini/Zachry/Parsons, a California-based Joint Venture, who bid $985,142,530, was the "apparent best value." In the competitive bidding process, five teams submitted proposals to the CHSRA for the first design-build contract, which combines project design and construction in one contract. The proposals were evaluated and ranked based on 30 percent for technical merit and 70 percent for cost. Factors such as an understanding of the project, schedule capability, project approach and safety were part of the technical scoring. The CHSRA had previously issued a Request for Qualification for potential design-build teams interested in the contract in late 2011. Five teams qualified and competed for the contract. The five teams submitted their proposals in January 2013, which were reviewed by an evaluation panel comprised of California state personnel. The design-build contract will include the CHSRA's adopted 30 percent goal for small business participation in the work. The CHSRA is committed to small businesses playing a major role in delivering the high-speed rail program. The ongoing procurement process will continue and it is expected that a contract will be presented to the CHSRA's Board of Directors in the coming weeks. To learn more about the high-speed rail project and what opportunities are available for small business, visit www.cahighspeedrail.ca.gov.

Lora Morrow, NAVFAC, Provides Insight on Government Contracting for Small Businesses

Tips for selling to NAVFAC. By Mike Sabellico, Business Consultant, Orange County SBDC

This month's edition of Contracting Central features the Naval Facilities Engineering Command (NAVFAC) and specifically their Deputy for Small Business, Lora Morrow. She has over twenty years of small business experience working for the Navy and has served in virtually every contracting position during that period. She has been in her current position for two years. NAVFAC is a global military Command with a Headquarters element and Component Commands that work together as one team providing facilities engineering, contingency engineering, and expeditionary support to the Navy, Marine Corps, Federal Agencies, and other Department of Defense Clients. NAVFAC provides Systems Command (SYSCOM) support to all Warfare and Provider Enterprises, serves as the lead SYSCOM for the Navy Expeditionary Combat Command, and provides warfighter support, including contingency engineering, expeditionary operations, sealift support programs, and ocean facilities. The local NAVFAC Command, NAVFAC Southwest, is located in San Diego and is one of ten facilities engineering commands in NAVFAC. The command is comprised of over 3,400 Federal employees (civil service, officers, and enlisted). NAVFAC Southwest is responsible for the public works, planning, engineering/design, construction, real estate, environmental services, and acquisition / disposal of facilities and real estate in a six state area on the West Coast. NAVFAC Southwest contracts with commercial businesses to produce and deliver construction for the military such as housing, piers, airfields and hospitals to name a few. The command also provides public works services such as transportation, maintenance, utilities/energy delivery, facilities management and base operations support to the Navy and Marine Corps Installations within its geographic area of responsibility as well as support to other federal agencies in California.   Most of these services are performed by ROICC & Public Works Teams composed of Seabees and Sailors with different levels of expertise in construction trades. Their annual operating budget is in excess of $3 billion in client work on the West Coast resulting in huge economic impacts for many communities. I recently spoke with Lora Morrow and asked her some questions regarding small business and NAVFAC. OCSBDC: How do you like working for the NAVFAC and how would you describe the current atmosphere for small businesses who want to work with the NAVFAC? Lora: I really enjoy working for NAVFAC. I believe strongly in our mission and work with a really great group of dedicated individuals. There is always something new to learn due to constantly changing regulations. The current atmosphere for small business is challenging due to recent budget constraints, but I don't think it's any easier for large businesses either. We were able to get a lot of work done in the past few years with stimulus funding and those funds are gone and our normal funding levels have been cut. We had about $4 billion in our executive portfolio for the last 3 to 4 years and the outlook for 2014 & 2015 is closer to $1Billion. OCSBDC: What is the best way for a small business to track upcoming opportunities for your agency? Lora: There are two avenues to track opportunities for NAVFAC Southwest: First as a prime contractor you need to monitor our website https://www.neco.navy.mil/ and also FedBizOps. On the FBO site look for our unit ID code N62473. I recommend not relying on the FBO email notification alone, get on the website and conduct active searches once or twice a month. The second way to look for opportunities to work with us is via a subcontracting role and you can find information about that on our website on the NAVFAC Southwest Small Business portal. OCSBDC: What is the best way for companies to market their products or services to the NAVFAC? Lora: First and foremost, they have to understand how NAVFAC works - do your homework! The best way for companies to learn about how we operate is to schedule a one-on-one meeting with myself or another Small Business Specialist or attend one of our various outreach events. You can always check with your local SBDC and find out what events we'll be attending or you can find the information on our website. Also make sure that you tailor your capability statement to the targeted customer. In a similar fashion to resumes, tailored capability statement are more likely to get you a call than a generic statement. OCSBDC: What are some of the common mistakes you've seen small businesses make when working with the NAVFAC? Lora: There are several mistakes that I've seen small businesses make over and over again. #1. Capability Statement - Make them succinct, eye catching, and tailored to the individual opportunity. #2. Don't drop in for a visit with the SB office or any technical POC. Everyone is busy and drop in appointments can't be supported. I feel awful when someone has driven down from Temecula and I have to tell them that I have no time for them today. Make an appointment and send your capability statement via email so I can have some feedback ready for you when you visit. #3. Not doing your homework - When I ask you what you sell or what service do you provide and you answer with whatever you need, I get the impression that you're not ready to work with NAVFAC. At matchmaking events never ask the agency or prime contact what they need or what they do...You want to make them your customer so do your homework and know those details in advance. #4 Performance - Once awarded the contract you NEED to perform on that contract. The worst thing a small business can do is to win a contract and then not be able to perform the work. The company will likely lose money on that contract and then it will be nearly impossible to get another contract. This may mean saying no to a larger opportunity that you're not ready to support. Winning a contract that the company is not ready to support can result in overextending the company and possibly watching it unravel. #5 Business Cards - Use the back and have all important information on the card. It may be worthwhile to have a card for commercial work and one for government work. On the Government card ensure you have the DUNS number and any federal certifications with their associated expiration dates. OCSBDC: Any last comments for our readers? Lora: Use the outstanding resources available to small businesses like the agency SBLO's and the Orange County SBDC consultants who have incredible experience and knowledge available to qualified small businesses at no cost! Last Word: Lora Morrow is an exceptional advocate of small business in a variety of facets and I want to thank her for taking the time to conduct this interview. We have several Orange County SBDC clients who have achieved incredible success both from a contract awarded and jobs created perspective working closely with Lora and supporting NAVFAC on a variety of projects.

City of Los Angeles Now Accepts WBENC Certification

WBENC-West partners with Mayor's Office of Contractor Relations.

Women's Business Enterprise Council - West has been approved as the WBE certification solution for the City of Los Angeles for WBE contracting. With City budget cuts, the Bureau of Contract Administration (BCA) has had to limit the businesses it certify to those in Los Angeles and still has a back log for WBE certification. With this new agreement, BCA will now accept the Women's Business Enterprise National Council (WBENC) certification as of March, 2013. WBEC-West, in partnership with Mayor's Office of Contractor Relations, has been working with the City of Los Angeles to ensure that women-owned firms have an equal opportunity to participate in City contracts. WBEs receiving WBENC certification will increase their opportunities of participating in contracting opportunities that are subject to the City's Business Inclusion Program where outreach is required. Additionally WBENC certification allows the City to accurately track and report on the number of women doing business with the City. The City of Los Angeles strongly encourages city agencies and prime contractors to contract with women-owned, minority-owned, and service-disabled veterans as well as with small and local businesses. According to Kecia M. Washington, the Executive Director of the Mayor's Office of Contractor Relations, "Inclusion is an economic imperative and we know that women owned businesses are part of the solution to our economic woes. Women owned businesses are talented, resourceful, and more than capable - we look forward to doing business with them." The BCA now accepts WBENC certified firms that are registered in the City of Los Angeles' Business Assistance Virtual Network (BAVN). Registration is done online through http://www.labavn.org/.