Contractors will be familiar with the tendering process for large-scale projects, but due to the diverse nature of the construction industry, the requirements for a tender can change on each project.
And just as it is crucial to tailor your proposal for each new development or project, reviewing your contractors insurance policy is important to reflect the work nature of each project you take on.
The construction sector can expose workers and businesses to elevated risks - for example the use of specialised equipment such as drills, cranes, abrasives, saws and other heavy machinery, therefore investing in a comprehensive insurance policy is important to help minimise these risks and the financial implications they may cause.
With a billion dollar resort development proposed in the Gold Coast, the thousands of construction workers to be potentially employed by the project will keep this consideration at the forefront of their mind.
The $1 billion Jewel resort project in Surfers Paradise is awaiting approval from the government, with a decision to be made by August.
Queensland deputy premier and minister for state development, infrastructure and planning, Jeff Seeney, said the development was expected to create 2,500 positions in the construction sector and 670 jobs in the hospitality industry.
"If we are to see a recovery in the tourism and construction sectors - two of the government's critical four pillars of growth - and a return to healthy levels of investment and activity, we need to ensure applications such as this do not languish or get bogged down in protracted legal proceedings," Mr Seeney explained.