An electrical contractor is a business firm. There are group of electrician perform specialized of contraction works related the design, maintenance and installation the electrical items. In USA 130 billion industry connect this category.
Electrical contractor firms are being worked for three classifications. First is worked in high voltage system i.e transformer and HT panels etc. Second is worked in under well voltage equipments like lights & fixtures and fans etc and thirdly it is performed Integrated building system (IBS) or “Voice and Data System” included telecommunication , security systems and fiber operatic wires .
Electrical contractors firstly participated the bidding, when got or won the tenders after that they are submitted the submittal of materials to consultant which will be used at site. The consultant is whose person or firm make plan or design the project and check the works such as drawings or plane.
After submitted and approved the materials, site has been handover the particular electrical contractor who won the tender. They (electrical contractor) before mobilized the site or their team his insist Mobilization advance amount which is 20% of the hole agreed amount but sometimes it’s different. Earlier than claimed mobilization advance, the contractor will be maked two types of bonds. One is Mobilization advance bond & second is Performance Bond. A question is arising in the mind of reader’s what are these?
The mobilization advance bond is a grantee of mobilization advance amount and performance bond as declared his name; it’s a grantee for the performance of contracts and after completion of these documents, working in process which is completed according to specific schedule as was submitted along with bidding documents.
Further time to time is claimed adhoc amount which is called running bills, deducted 5% retention money for each bill. Retention money is holding amount which has been released after 100% works completion and a specific maintenance period has expired.
At last in Pakistan many electrical contractors firm is working which is playing a gigantic role in growing the economy. If government provide some relief or subsidies the electrical contractors industries will bring major achievements for economy of Pakistan.
By Abdullah Noman