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BoNdiNg
While bonding is not required for SBMP Tier 1 contractors, it
is required for Tier 2 and SBFP contractors. Through the SBMP
Tier 2 and the SBFP, a team of surety professionals will provide
technical assistance and support to small business construction
contractors who need to understand how to grow their company
and the ability to increase bonding limits. As contractors
participate in projects in the advanced tiers, they work closely
with MTA’s surety consultants to build their documentation
portfolio for presentation to select bonding companies.
oWNER-pRovidEd iNSuRANCE
Special insurance programs, such as Owners Controlled Insurance
Programs (OCIP), frequently called“Wrap-Ups” are available to
SBMP and SBFP construction contractors. These programs assist
in supporting each contractor’s ability to complete a project with
the proper protection in place. While SBMP and SBFP contractors
are covered by the MTA’s Owner Controlled Insurance Program,
the program also prepares participating contractors to better
understand the insurance requirements of a project as well as how
to control and manage risk related to safety incidents.
uNioN TRANSiTioN
Working in the construction industry requires a sophisticated
understanding of the union environment and the effect of
collective bargaining agreements on contracts, both in terms of
planning as well as project execution.
SBMP Tier 2 and SBFP construction contractors are offered a
rare opportunity to meet with union leaders as well as trade
association executives to better understand the complexities
of union labor requirements. Armed with these experiences,
participating contractors can make better informed decisions as
they consider union transition.
CoNTRACTS
Each of the program components collectively provide tools
to support a firm’s ability to successfully compete for prime
contracts. Assisting a firm to successfully complete MTA projects
safely, timely and within budget is the program’s number one
priority. Since the program’s inception, the MTA has awarded
147 contracts with a value of over $109 million.
BuSiNESS oppoRTuNiTiES AT THE MTA
