Before revision: Contractor rating systems, also known as contractor prequalification are one of the larger cost saving practices available and more routinely applied by governmental organizations as a means of avoiding the high cost and inflated pricing that results from reduced competition on public work by using Bonding and Surety to guarantee performance of public work.
After revision: Contractor rating systems, also known as contractor prequalifications, are one of the larger cost saving practices available and more routinely applied by governmental organizations as a means of avoiding the high cost and inflated pricing that results from reduced competition on public work by using bonding and surety to guarantee performance of public work.