Surety Bond Fraud

  • 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 2017 edition.

  • Surety Bond Fraud - This is an article published in the Surety Bond Quarterly magazine Winter 2016 and written by Jay Labe, who serves on the NASBP Attorney Advisory Council. Labe is of counsel at the law firm of Allen & Curry, P.C. in Denver, CO.  

  • 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.

  • Beware of Inadequate or Fraudulent Surety Bonds - This article, coauthored by NASBP's then General Counsel and Director of Government Relations, Mark H. McCallum (now NASBP's CEO), and SFAA’s General Counsel, Edward G. Gallagher, is reprinted with permission from a special advertising section in Engineering News-Record.
     
  • 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 Construction Business Owner magazine.

  • Part 1 Battling Surety Bond Fraud: Why Bond Verification Is So Important - Part 1 of this two part article, written by NASBP's General Counsel, Martha L. Perkins, was published in the Fall 2014 newsletter of the Fidelity & Surety Law Committee of the American Bar Association's Tort Trial & Insurance Practice Section.

  • Part 2 Battling Surety Bond Fraud: Why Bond Verification Is So Important - Part 2 of this two part article, written by NASBP's General Counsel, Martha L. Perkins, was published in the Winter 2015 newsletter of the Fidelity & Surety Law Committee of the American Bar Association's Tort Trial & Insurance Practice Section.