FAQ SUB-CONTRACTORS

Q. What do I have to do to apply for Sub-Contractor services for BestAssets, Inc.
A. Click on the Vendor Opportunities link and download the Vendor Registration package. After downloading and completing the package, please return to the designated location. Please include current insurance and license information, where required.

Q. What is included in the Contractor Information package?
A.The following documents make up the Vendor Registration package:

• Vendor Registration Data – Please fill out completely. Make sure your company name, address and phone numbers are all accurate. A contractor may not be set up in the system unless all information can be verified. •W-9 – Please fill out completely. If you are a Corporation, please fill out your Company Name exactly as it appears with your State. If you are an individual/sole proprietor, please include a copy of your Social Security card when returning this package. •Business and/or Trade License for your Company (if applicable for your State/City). •Required Insurance and Certification Statement – Please fill out completely. Please include copies of all insurance policies required, with a starting date and expiration date, when returning this package. Contractors may not be set up in the system unless all insurance information is on file. For Appraisers, only include Auto Insurance information. • Contractor Reference Sheet - Please complete and return.

Q. Where are the offices to send my completed Contractor Information Packages?

Q. What happens after I submit my application to become a BA Sub-contractor?
A. Best Assets Procurement will review your package and notify you as soon as there is a need for the services you provide.

Q. What happens when my insurance expires?
A.All insurance, on file at BA, must be current. We will be unable to issue work orders to your company when your insurance has expired.

Q. What is a HUD Reimbursable job?
A. HUD Reimbursables (aka HUD "Pass Through" costs) are costs, with HUD's authorization, which will be reimbursed to BestAssets. A contractor should invoice BA for these jobs as soon as they are completed and not wait until the end of the month.
For more information on invoicing, please contact our local office.

Q. What is a Non-Reimbursable job?
A. Non-reimbursable work orders are not reimbursed by HUD. These jobs should be invoiced to BA at the end of the month.
For more information on invoicing, please contact our Procurement Department.

Q. How does a subcontractor invoice BA for completed work?
A. All invoices for Non-reimbursable work (accompanied by the required supporting paperwork, pictures, etc.) must be received in the appropriate office no later than the 1st day of the month following completion of work.
All invoices for Reimbursable work (accompanied by the required supporting paperwork, pictures, etc.) must be received by BA no later than the Monday following the week the work was completed.

Q. What is Net 30?
A. Net 30 means that BA will process the subcontractor's invoice (received for the previous month's completed work) and mail a check on the last day of the month to the subcontractor.

Q. What happens once I have been approved as a BA Sub-contractor?
A.You will be contacted for an orientation before beginning work for BA. At that time, several policies and forms will be discussed with you. These forms include:
General Specifications
Licensee Acknowledgement

Q. Do I get a list of General Specifications for the job?
A. Yes. General and Specification Sheets will be issued upon receipt of a completed Contractor Information Package and before any work is assigned.

Q. What jobs are available for Sub-Contractors?
A.Many different services are needed from BA Sub-Contractors and varies from area to area. These are updated regularly on our web site and are listed by area.

Q. May I apply to be a Sub-Contractor even though the service I provide is not needed at a specific time?
A.Yes. You may apply by completing and returning a Contractor Information package. Your package will be kept on file and when the need arises, you will be contacted by BA.

Q. I am an appraiser. Must I have Worker’s Compensation Insurance and General Liability?
A.No. Appraisers are only required to supply proof of current Auto and Errors and Omission Insurance to BA.

Q. My Contractor Information package has been approved by BA, but I am not getting any work. Why?
A. Inventory levels contribute to work rotations and assignments therefore work orders will be issued on an as needed basis.

Q. Who do I contact if my question is not answered on this web page?
A.Please contact our BA Procurement Department (800) 434-9644 for specific questions not listed on this website. You may also e-mail the following:contact@best-assets.com