Bonding Policy

Pacific West has delivered 10,000 apartment and condominium units on-schedule, on-budget, and to industry quality standards. And we did so without bonding.

When we or other general contractors are required to provide Surety Bonds, the cost of construction for a project is increased by approximately 13%, costing clients millions of dollars in additional construction costs with little or no benefit. Because of the high cost of bonding, we do not feel bonding is in our client's best interest. This money can be better spent elsewhere or not at all. Selecting a quality design-build contractor with a proven track record is the key to risk management. Pacific West is such a contractor. We, our design professionals, and our trades, have proven track records, accounting and lender controls, and other "Assurances" and disciplines to insure all our jobs run smoothly from beginning to end.

Pacific West Contracting Services understands a lender's or investment equity's concern over the money they've invested, which is why we use GCAssurances in all contract negotiations. As an alternate to bonding, Pacific West Design-Build Contracting Services, through GCAssurances, will set aside a percentage of its contingency until project completion. As additional assurance, Pacific West withholds an overall 5% retention, and through our pay point draw system, an additional 8% until each building is finished and receives a certificate of occupancy, and client sign-off.

Pacific West works exclusively with the largest apartment subcontractors and suppliers in the Western U.S. and they have a proven record of superior performance and solid financial strength. As part of our Risk Management Program, we continually monitor and evaluate our Trade's financial stability and prior performance with each new job we release.

To further minimize client risk, Pacific West's management group executes and releases stringent contract documents to each subcontractor and supplier prior to the beginning of a job. This complies with both GCAssurances and GMAX contracts.

In the history of our company, not one of our subcontractors or suppliers has ever had a contract default.

Pacific West has the most stringent job cost controls in the industry, with all expenditures and revenue itemized by job, trade, materials, and all other aspects of a project. All financial and trade contract documentation can be viewed by the client in real time through a secure encrypted web platform 24 hours a day. We have discovered that our financial controls and accessibility typically exceed those of our most conservative lenders and clients.

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