Credit Risk Evaluation In The Process Of Bidders Sought For Construction

Credit risk evaluation is that people evaluate the credit status of transaction opponent guarding against violation after the trading day. According to the situation of the transaction match provides, Its goal is confirming credit status of opponent through the related assessment method, making the reasonable judgment for the decision-making, reducing the loss because of the opponent violation, playing to a kind of early warning role.Construction project has proper characteristic. Once the project contractor break creates, it may make very serious result to the owner. In the current, our country construction project tender takes the project bids as the principal means. In the tender process, it is helpful to reduce violation behavior of the biders after the tender in the engineering construction and the benefit protect host to carry credit risk evaluation.Overseas already has a set of mature methods to the evaluate bidders'credit risk, and has formed the standard credit rating market. In the home, credit consciousness already started to be established, but it is quite weak in the engineering construction domain of bid enterprise credit risk evaluation, has not formed a set of perfect assessing method. Academic regarding to bids the enterprise credit risks in the control is only restricted in the theoretical side of the, and has not applied in the project practice.The paper appoints the flow of funds between the owners and the bid enterprise as an entry point. Their economic relations between both just like relations between financial institutions and lending units. So, the owners could analyze the process of tendering in the way of reviewing loan application in Financial institutions. However, reference isn't the same. The process of tendering after all is not a loan pre-trial. The paper demonstrates the rationality and feasibility of using credit model to evaluate the credit risk of bidders.The paper is on the foundation of reviewing correlation evaluation theories of credit risk, profits from the theory and the method of the commercial bank credit rating, unifies the goal and the characteristic of current project tender in our country, and establishes method which is suitable for credit risk evaluation in the engineering construction tender domain. This system contains the financial norm and the non-financial norm of credit risks evaluation aspects. The financial aspect mainly carries on the analysis of the financial reporting which bids to the enterprise provide, and the non-financial part mainly analyses enterprise basic condition. For reflecting the credit status goal in the tender and perfecting the process of biding process, the choice of evaluating indicator has been listened to the expert.This paper utilizes the analytic hierarchy process in determining the situation of enterprise credit, carries on the individual experts'weight evaluation to each index in credit risks evaluation system of tender's process on the foundation of qualitative and in quantitative analysis, then using extensional logarithmic least squares method to re-calculate single expert's weight evaluation to determine the final weight evaluation.Finally, the paper utilizes the fuzzy comprehensive evaluation to deficits bidders' credit status. According to the selected enterprise position in the current tender process, credit risks size in quality synthetic evaluation, the paper recommends bid enterprise which has low the credit risk and reasonable tender for the owner; then analysis the result to prove the usefulness of this method.