The challenge
A diversified equipment manufacturer and construction company came to CT Corporation to map out the process for an urgent change in the qualifying party of their contractor licenses and requested a full license audit. With their current qualifier set to retire at the end of the month and licenses expiring the following month, time was of the essence. The client needed to determine where they were licensed and identify which licenses had the old qualifying party listed.
The CT Corporation solution
To tackle the time restraints and complexities of the project, CT Corporation:
- Produced a full license assessment in order to create an accurate list of necessary updates, as each jurisdiction has its own unique method for changing a qualifying party.
- Completed a custom License Assessment that covered multiple legal entities and identified lapsed licenses.
- Provided the client with a clear picture of what information was on file and what changes were necessary to achieve compliance across different states.
- Leveraged our existing database to quickly turn around a customized assessment, providing the client with the blueprint moving forward.
The outcome
Total compliance achieved. Through the audit process, license reinstatements were uncovered and handled by CT Corporation, as well as all license updates.