| Absolute Fire Protection, Inc. earns a rating of EXCELLENT for its finances |
December 22, 2011 – To a Project Manager having a contractor go out of business during construction can be one of the biggest disruptions a project can face. To avoid that situation general contractors are requiring financial qualifications for their subs.
A solid fiscal position is a top priority for Absolute Fire Protection. Maintaining healthy cash balances, no debt and conservative money management has earned the score of 1432 from Contractor Score, an organization that's rapidly becoming the gold standard for measuring contractors' fiscal health. Scores over 1000 are considered Excellent!
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Contractors scoring over 1000 have significant credit available, are in the top 25% operating ratios and have conservative fiscal and proactive cash management policies. Contractor Score ranks contractors based on empirical, verified information that comes mainly from outside sources, including:
- The contractor's most recent audited or reviewed fiscal year financial statements
- The contractor's financial statements for the most recent fiscal quarter, which the contractor may generate internally
- Corresponding backlog information and work-in-process statements for the fiscal year and quarter reviewed
- Bank statements for the contractor's lines of credit
- Management head count and wage information from the contractor's quarterly Internal Revenue Service Form 941
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Contractor Score helps measure the key aspects for a contractor's short-term financial and management capacity. Contractor Score LLC is a management consulting firm specializing in the construction industry. The management team has worked for over 30 years with contractors and their organizations.
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