NASBP is a participatory organization in this effort and is encouraging NASBP Members to become involved. This web page provides information about the U.S. DOT Bonding Education Program and ways in which NASBP Members can provide their services to advance the bonding knowledge and education of small businesses. NASBP members interested in these Bonding Education Programs should contact Larry LeClair at firstname.lastname@example.org or 202-464-1217.
The Surety & Fidelity Association of America (SFAA) and United States Department of Transportation (DOT) Bonding Education Program (BEP) is composed of two interrelated components.
The Educational Workshops Component offers a set of up to ten workshops, including an introductory workshop on intake and logistics; eight comprehensive workshops, each of which is designed to provide information to the contractors related to improving their company’s operations and thereby making it easier to be bonded or to increase their bonding capacity; and a closing workshop focused on networking and next steps.
The Bond Readiness Component consists of one-on-one interactions with surety bond producers, underwriters and other professionals who work with the contractors on a case-by-case basis in assembling the materials necessary for a complete bond application and in addressing any omissions and/or deficiencies that might deter the successful underwriting of a bond.
Programs for 2013 are already being scheduled nationwide. NASBP bond producers are needed at each of these Programs to work with individuals one-on-one at the beginning of selected program workshops scheduled once a week during an 6 to 8-week program. Bond producers also will be asked to assist these individuals in assembling documents for bond-readiness assessments and in initiating the steps for prequalification for actual contracting opportunities that require bonding. Bond producers are also encouraged to participate in the stakeholder meetings, which are held in advance of the launch of each Program. These stakeholder meetings review the parameters of the program, determine resource requirements, and ascertain the role each stakeholder will play in ensuring program success.
For more information, review the Complete Program Description by clicking here and the Implementation Plan of each of these Bonding Education Programs by clicking here.
During the Program surety professionals develop individualized prescriptive plans, called the Prescriptive Plan Process, for the contractors participating in the bonding assistance program. Surety professionals complete two forms, which help organize information about and the needs of these contractors. These forms include the Prescriptive Plan Process Form and the Client Intake Report Form.
Success Stories of Contractors Obtaining Surety Credit
NASBP bond producers are contributing their time to assist small and emerging contractors at these DOT BEPs, and small and emerging contractors are obtaining surety credit as a result of their participation in the DOT BEPs. See the NASBP bi-monthly e-newsletter articles published in the Jan/Feb 2012 Pipeline issue, March/April 2012 Pipeline issue, May/June Pipeline 2012 issue, and Nov/Dec Pipeline 2012 issue.