"Turning construction data portability into profits and objectives into reality"
Process
The process is relatively simple. When the general contractor submits their monthly progress billing to the owner they also run a report that contains specified subcontractor information. The data in that report is then uploaded to a specific secure website, referred to as “SBRM-Databank” which is later retrieved by Subcontract Status Connection and ultimately viewable by the respective surety companies.
The process really begins when either the general or the surety detects a potential problem.
Initial Process for Data Processing
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The general contractor advises bonded subcontractors that the project
will be monitored and provides each subcontractor with a log in so they may review the data being posted.
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The general contractor generates a subcontractor report concurrent to the monthly
progress billing and uploads the data using AGCxml to their specific SBRM-Databank (a secure website).
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Subcontract Status Connection will retrieve data from each SBRM-Databank on a
regularly scheduled basis and upload it to Project Status Connection.
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The surety can view multiple project data summaries in a dashboard format that
allows for data to be sorted and exported as desired. Summary project data can be imported by surety for their
own risk matrix analysis.
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Each project is linked to that originating specific SBRM-Databank that contains
additional information with contact information.
Data retained by SBRM-Databank
The Subcontract Status Connection data has five components,
one fixed throughout the project and the other four variable to each progress payment.
1. Contract information
Contains all the reference numbers (ie: bond number,
surety NAIC number, prime contract number, owners project number,
subcontract number) and contact information for the project participants
2. Progress billing
The following data will be part of the upload information:
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Original contract amount
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Revised contract amount
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Payment to date
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Original start date
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Revised completion date
With the above data the following will be calculated:
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Percent of work completed to date
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Percent of time elapsed
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Spread between percent of work completed and percent of time elapsed.
With Project management review the following editorial options are provided:
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Override false negative/positive calculations
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Provide for a manual entry for unsatisfactory performance.
3. Stop Notices
A log of stop and/or lien notices filed on the project
4. Directives
A log of directives issued and amount claimed.
5. Liquidated Damages (LDs)
A log of the LD amounts.
Access to SBRM-Data bank
General Contractor
Full access to upload/download and edit project data.
Surety
Limited read only access to just the information on the specific subcontractor bonded by surety, with an option to download an AGCxml file containing data. Sureties with multiple subcontractors can view one page with all their clients listed, and linked.
Surety Agent
Limited read only access to just the information on the specific subcontractor represented by surety agent. No download option.
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