The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

MANY Bahamian contractors are facing challenges putting together successful bids according to Bahamian Contractors Association (BCA) president Godfrey Forbes.

He said contractors were finding themselves at a ‘disadvantage’ not being in the financial position to meet bond requirements for many of the projects coming on stream.

“We have issues where many of our contractors have challenges when it comes to putting together successful bids and we have situations with bonding whereby many of the projects coming on stream require us to present bonds and in many cases these are more in favour with foreign contractors.

“For us here locally we find ourselves at a disadvantage because financially we may not be able to meet that level of bond that they are looking for - which is 100 per cent of contract value,” Forbes said.

Mr Forbes added: “I think for us having these kinds of requirements, our government needs to put something in place whereby a similar bond will be made by some of our developers to ensure that contractors who get into contracts with some of these developers are guaranteed that they would be paid for the work that they would have carried out during the course of a particular project for these various developers.”

The BCA yesterday announced that it will be hosting the inaugural Regional Conference of Caribbean Contractors, October 18-20, aimed at addressing challenges in the construction industry across the region, among them bonding and financing.

Mr Forbes said regulations for the construction industry would also be one of the primary topics of discussion at the conference. He noted that the BCA has developed a Contractor’s Bill which other Caribbean contractors will look at to lend to the development of regulations for the industry in their countries.

Former BCA president Stephen Wrinkle said that the conference also provided an opportunity for local construction projects to be showcased.

“This conference is the result of the acquisition of an International Development Bank (IDB) grant which we signed a little over a year ago. They heard our concerns and appeals to the government to try and regulate as well as improve the industry,” said Wrinkle.

“The grant allowed us to carry out an extensive marketing survey of all the contractors throughout the Bahamas. It gives us a tremendous database and wealth of information regarding contractors. The other important issue is the training curriculum which we are completing so that we can have a certification program that the BCA will undertake to provide for all contractors throughout the Bahamas. This will give us a certification process whereby a person who sits the course will have a level of capability and competence that will be recognised not only in the Bahamas but also throughout the entire region. The third comment is the regional ties with other Caribbean contractors Associations. This conference will be the first workshop of its kind and will enable us to discuss areas of common interest, common problems we share, goals we seek and to seek to begin to form partnerships,” said Wrinkle.

The three day conference entitled “Strengthening and Building Regional Ties” to be held at the British Colonial Hilton, will attract roughly 200 contractors from the Bahamas and over 20 regional countries.