Stability - Bank & Supplier Reference Letters

What To Look For: Bank Reference Letters

Why It's Important: This signed document from the contractor's bank will show you the financial stability and the bank's judgment of character of the company you're working with.  Insist on seeing this letter so that you know that you're dealing with a company that is stable and financially sound.

What To Look For: Supplier Reference Letters

Why It's Important: This written confirmation of the company's dealings with a supplier of the product that they build with.  These letters are easy for your contractor to obtain from suppliers--if yours says that this kind of letter is difficult to obtain, then there might be something that they're trying to hide.  Your contractor should pay his suppliers within the 10 day payment period allotted him. Financially stable contractors have a track record of rarely exceeding this time period.

Bank Reference Letter
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Supplier Reference Letter
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To learn more about what to expect from a quality contractor, please read our Contractor Standards Guide Overview and request a copy of the complete Contractor Standards Guide.