Contract Provisions in Bond Forms and Project Agreements

 

  • Always Verify Your Bond! - NASBP developed this document in response to the stated interest of its Members, Associates, and Affiliates for many and various educational materials from NASBP and to help combat instances of fraudulent surety bonds through education. The document, Always Verify Your Bond!, is a one-page tool that surety professionals can give to their clients (and refer to themselves), which sets forth a two-step process to help them verify the authenticity of every contract surety bond before acceptance. The two-step process shows them how (1) to check the authority of the surety to issue the surety bond, and (2) to verify that the surety actually authorized the issuance of the surety bond. January 2014 edition.

  • The Importance of Surety Bond Verification - This article, coauthored by NASBP's CEO, Mark H. McCallum, and SFAA’s General Counsel, Edward G. Gallagher, is reprinted with permission from the American Bar Association. The article is from the Public Contract Law Journal, Vol. 39, No. 1 Winter 2010.

  • Know Your Bond Before You Sign - This article, coauthored by NASBP’s then General Counsel and Director of Government Relations, Mark H. McCallum (now NASBP's CEO), and SFAA’s Director of Underwriting and Assistant Counsel, Robert J. Duke, provides insight to certain terms of a bond form, such as language that triggers the surety's liability, varies the burden of proof, increases the surety's monetary liability beyond the original penal sum of the bond, limits the surety's response options, and lengthens the time the surety remains liable. This article was published in the November 2008 issue of Construction Business Owner magazine.
     
  • Contract Terms and Conditions from a Surety Perspective - This article, coauthored by NASBP’s then General Counsel and Director of Government Relations, Mark H. McCallum (now NASBP's CEO), and SFAA’s Director of Underwriting and Assistant Counsel, Robert J. Duke, describes how a surety company typically reviews the terms of a construction contract to determine its exposure under a performance bond. This article was published in the June 2008 issue of Construction Business Owner magazine.
     
  • Getting Directly to the Point of the Contested Matter: Dispute Mitigation & Resolution in ConsensusDOCS Construction Forms - This article, written by the NASBP's then General Counsel and Director of Government Relations(now NASBP's CEO), Mark H. McCallum, describes how the ConsensusDOCS forms use a multi-method, graduated approach to defuse project disputes and how their approach precludes a role for the project design professional as initial arbiter, a point of departure from other industry standard form families. The article was published by the American Bar Association's Fall 2008 Forum on the Construction Industry.
  • The Advantages of ConsensusDOCS Developed Standardized Agreements -This article, coauthored by NASBP's CEO, Mark H. McCallum, and SFAA’s Associate Counsel, Robert J. Duke, addresses the attributes of the ConsensusDOCS forms that set them apart from other standarized forms. The article was published in the November 2009 issue of Construction Executive magazine.