Do you guys get RFP's that state you must include unaudited financial statements with your proposal?
My company finances are none of their business is my view. Been in business for over 65 years.
SD
Yes, all the time. For long term contracts its always that way.
That's in lieu of you buying a performance bond. They are the ones that are going to get a construction loan and aren't looking forward to extra interest payments if you are likely to go under because you are hanging on by a thread.
In NYS with most state contracts you have to supply your overhead multiplier and your profit multiplier along with the financials to back them up including individual employee salaries. Generally they do not want to see more than 10% profit or an overhead multiplier of more than 3.0 (some agencies cap it at 2.5). If you don't want to work with their system they find another company that will.
Tom
