Before revision: These rating processes now make the whole issue of bonding and surety, (that has been around since the late 19th century to guarantee of performance and paying large premiums), obsolete and redundant since the public officials have already reduced risks and are paying premiums associated with reducing competition by using the prequalification process and rating systems.
After revision: These ratings and processes now make the whole issue of bonding and surety, (that has been around since the late 19th century to guarantee of performance and paying large premiums), obsolete and redundant since the public officials have already reduced risks and are paying premiums associated with reducing competition by using the prequalification process and rating systems.