Contract Surety Fundamentals

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This course provides a thorough orientation to the contract surety business.  A major focus of the course is to have the student understand how construction businesses are organized and managed with a strong focus on their financial accounting methods and how this relates to their bonding program. The major types of contract surety bonds are reviewed - their purpose, their limits, their risks, and conditions for default. This includes: legal requirements, contract language, underwriting processes, participant roles, and the claims process. In addition, the course includes an in-depth review of how to analyze contractor financial statements and organizational information critical to the underwriting process. 
       

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This course costs $189 per person and can be taken at your own pace within 12 months of purchase.

Course Details:

Chapter 1 – Overview of the Construction Industry

Chapter 2 – What Is Surety?

Chapter 3 – What the Surety Looks for in a Contractor

Chapter 4 – Miscellaneous Bonds

Chapter 5 – Construction Procurement and the Roles of Those Involved

Chapter 6 – Bond Claims

Chapter 7 – Other Services of a Surety

Chapter 8 – Special Concerns of Sureties

Chapter 9 – Popular Misconceptions

Chapter 10 – Role of the Professional Surety Bond Producer

Each chapter concludes with review questions for students to gauge how well they are mastering the content. On completion of the course, students demonstrate their comprehension of all the material by taking a final, online examination.

 

Continuing Education (CE) Credit:

Hours of approved CE credit are indicated in the chart below. (This list is provided for information only and CE hours may have changed since its compilation.
Click the registration link to confirm the current credit hours for your state.)
 
Continuing Education Credit Hours Approved by State
Alabama - 9 hours Louisiana* - 9 hours Ohio - 7 hours
Alaska* - 9 hours
Maine - 9 hours Oklahoma* - 6 hours
Arizona - 9 hours
Maryland - 9 hours
Oregon - 9 hours
Arkansas - 9 hours Massachusetts* - 6 hours
Pennsylvania* - 9 hours
California - 7 hours
Michigan - 9 hours Rhode Island -  9 hours
Colorado - 9 hours
Minnesota* - 9 hours South Carolina - 9 hours
Connecticut - 9 hours
Mississippi* - 8 hours
South Dakota - 9 hours
Delaware* - 9 hours  Missouri - 9 hours Tennessee* - 9 hours
Florida* - 7 hours Montana* - 9 hours
Texas* - 9 hours
Georgia* - 9 hours Nebraska - 9 hours Utah* - 9 hours
Hawaii - 5 hours Nevada - 9 hours
Vermont - 9 hours
Idaho* - 9 hours
New Hampshire* - 9 hours
Virginia - 9 hours
Illinois* - 9 hours New Jersey - 9 hours
Washington - 5 hours
Indiana* - 9 hours
New Mexico - 9 hours
West Virginia - 9 hours
Iowa - 9 hours New York* - 9 hours Wisconsin - 9 hours
Kansas* - 9 hours
North Carolina* - 9 hours
Wyoming* - 9 hours
Kentucky* - 9 hours
North Dakota - 9 hours Washington D.C. - 9 hours
       
* Adjuster and Public Adjuster CE hours are also available in these states.

NASBP has partnered with WebCE®, a leading nationwide provider of continuing education for insurance professionals, to provide Contract Surety Fundamentals.