NEW! A Resource Kit to Promote the Benefits of Bonding to Public Entities
It has been my great pleasure to work with the talented members of the NASBP Commercial Surety Committee to prepare and offer to colleagues in our industry this collection of items for a resource kit we are calling
How to Build a Bond with Public Entities.
In particular I would like to thank those who led this project for contributing their knowledge and for dedication of time:
Lynne Cook, Early, Cassidy & Schilling, Inc.
Corban Enns, Surety Solutions, LLC
Helen Lally, Navigators Management Company, Inc.
Steven Swartz, South Coast Surety
I am grateful to my employer, Wells Fargo Insurance Services, for encouraging and allowing me time to work on this project.
The tools included have been created to help you, the surety professional, provide the information, education, and examples you can use to explain the function, necessity of bonding to local, municipal, city or state employees, elected officials, and any other person responsible for spending taxpayer dollars on behalf of the public for goods or services.
Items in the resource kit include:
Surety Safeguards 3rd Party Vendor Contracts – a flyer: This one-pager presents a quick overview of the what, why, and how of surety bonds and their role in protecting tax payer dollars. It’s a brief, compelling message on the reasons bonding should be considered when public funds are to be spent.
Surety Bonding for Public Entity Outsourcing – A White Paper: This document provides in-depth information about surety bonds. Its clearly stated purpose is to educate stakeholders about the benefits of outsourcing as a tool to contain costs, improve services, and streamline the management of public infrastructure.
The Surety Safeguard for Third Party Vendor Contracts: How Surety Bonds Protect Taxpayer Dollars – A Brochure: Distribute this insightful and information-packed piece to help officials and others understand clearly the reasons behind, and the function of, bonding. It outlines the why and how-to of bonding and is an invaluable piece for meetings during which you can draw attention to specific sections.
How To Build a Bond with Public Entities: Protection for Third Party Vendor Contracts - PowerPoint Presentation: When you have the opportunity to give a live presentation, here is a tool for you to adopt or adapt according to the needs of your audience. There are presenter notes to help you prepare your explanation of the why, what, and how of surety bonds.
Bond Sample and Key Language Samples: A performance bond and bond requirement language for inclusion in contracts is provided as a sample for those you present to.
We wish you well in your endeavors to assist clients and potential obligees in making careful and wise decisions about bonding projects where taxpayer money is involved.
Please let us know if you have any questions of comment about these materials.
NASBP Commercial Surety Committee
Resource Kit Downloads
firstname.lastname@example.org or call NASBP Professional Development at 202-686-3700.