Responses to Survey on Construction Firms' Access to Surety Bonds
RCED-95-173S: Published: Jun 26, 1995. Publicly Released: Jun 26, 1995.
- Full Report:
GAO provided a supplement to its report on small construction firms' access to surety bonds between 1990 and 1993.
GAO noted that: (1) the random sample included 12,000 construction companies; (2) the firms that did not answer the survey were generally smaller, worked in special trade areas, and were less likely to have financial records on file with Dun & Bradstreet; (3) survey results could not be generalized to the firms that were no longer in business, too new or too young, or worked primarily as general contractors for builders or developers of single-family homes; (4) its statistical estimates contained sampling errors because it was not able to collect data on all firms; (5) 43 percent of the firms that responded to the survey had obtained surety bonds at one time; and (6) the statistical differences between minority-owned and nonminority-owned firms, plus or minus the sampling errors, yielded a range that included zero.