The National Association of Surety
Bond Producers (NASBP) had its origin in a meeting of several surety
agents who gathered during the summer of 1942 to decide how to respond
to a growing practice of waiving bonds on war-related construction
The success of the plan devised by this group of bond producers in
reversing this trend caused them to recognize the potential of working
together for the common good. Why not form a permanent organization,
they reasoned, to anticipate and solve industry problems, to develop
standards for professional bond producers and to promote understanding
and recognition of the value of corporate suretyship among public and
private project owners.
Thus, in 1942 NASBP was officially established as the national
organization to represent the interests and needs of surety agents and
It was not until 1961, however, that a permanent headquarters office
for NASBP was established in New York City and an executive secretary
hired. Ten years later, when it became clear that actions by the federal
government increasingly would impact the use and practice of suretyship,
NASBP's headquarters was moved to Washington, DC.
NASBP has grown as a leader in defending and promoting
suretyship. Today, NASBP is the recognized voice of surety bond
professionals with government and industry.