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What Are Surety Bonds?
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Public Bonding Kit
Public Bonding Kit
A Resource Kit to Promote the Benefits of Bonding to Public Entities
Under the aegis of the NASBP Commercial Bonding Committee, this tool kit has been created to help surety professionals explain the function and necessity of bonding to local, or state employees, elected officials, and any other person responsible for spending taxpayer dollars on behalf of the public. It is our goal to assist clients and potential obligees in making wise decisions about bonding projects where taxpayer money is involved. Items in the resource kit:
Surety Safeguards 3rd Party Vendor Contracts (flier):
This one-pager presents an overview of the what, why, and how of surety bonds and their role in protecting taxpayer dollars. It’s a brief, compelling message on the reasons bonding should be considered when public funds are spent.
Surety Bonding for Public Entity Outsourcing (white paper):
This document provides in-depth information about surety bonds. It is designed 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 (brochure):
Distribute this insightful and information-packed piece to help officials and others understand clearly the reasons behind, and the function of, bonding.
Protection for Third Party Vendor Contracts: Surety Bonds for Public Entities (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.
Performance Bond (sample):
A sample performance bond.
Performance Guarantee Key Language (sample):
Bond requirement language for inclusion in contracts.
or call NASBP Professional Development at 202-686-3700.
7735 Old Georgetown Road, Suite 900, Bethesda, MD 20814. 240.200.1270.
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