Coronavirus Resources & Info



NASBP_COVID_Resources.png Resources for NASBP Members and their Clients


With the uncertainty of the novel coronavirus and of its impact on the surety industry, NASBP wants to ensure that NASBP members have the most up-to-date and relevant information that pertains to their businesses and clients.

Below are resources with relevant COVID-19 information for your business including:
  • New NASBP Toolkit 2.0 -- Resources for Stakeholders & Surety Professionals
  • NASBP Blogs
  • NASBP Virtual Seminars
  • SBA Paycheck Protection Program Loans and CARES Act information
  • NASBP Podcast "Let's Get Surety"
  • NASBP SmartBrief enewsletter articles
  • Electronic execution of surety bonding information, and more
    Please check this webpage often, because NASBP will be updating it regularly with additional information and articles.


NASBP Producer Communications Toolkit 2.0New NASBP Producer Communications Toolkit 2.0 is now available! Go to the Be Guaranteed to Succeed website to access materials to help our industry talk about surety in a new and compelling way during these unprecedented times. Direct stakeholders to the pulldown menu at "Resources"-- these are specific to their needs. Remember, you'll need your NASBP login to access the Toolkit PDF that provides you links to new social media content, updated messaging to talk about surety with stakeholders, and a plethora of other resources. Make sure to check it out today!









View recordings of all NASBP Virtual Events held in 2020 and 2021 at the NASBP Virtual Events page. (Requires NASBP login.)

For information on the operating status of NASBP, click here.



NASBP Blog Logo
Check out our latest blogs, with suggestions from NASBP Advisory Council Attorneys and CPAs, and others, on how to handle coronavirus-related delays, costs, and possible economic slowdown.

View all of the coronavirus-related NASBP blogs here. See all NASBP Blogs here.


Material Price Escalation and Delays
Managing the Impacts of Material Price Fluctuations on Construction Projects Published August 3, 2021

Material Cost Escalations, Delays and COVID-19: Managing Risk in Challenging Times Published July 20,2021

Leveling the Peaks and Valleys: Best Practices to Proactively Address Price Fluctuations in Construction Materials Published July 15, 2021

Volatility in the Market Place: Lessons Learned from Price Increases of Past Pandemics Published June 23, 2021

De-escalating the Impact of Price Escalation Published June 2021

Construction Supply Chain post-COVID Published June 2021

Material Price Escalation Has Become a Source of Substantial Conflict in Construction Contracting Published June 3, 2021

Best Practices for Addressing Rising Construction Material Costs Published April 26, 2021

Revisiting Price Escalation Clauses in a Time of Skyrocketing Material Costs Published April 23, 2021

Find more NASBP Blogs on Material Price Escalation here.


Force Majeure and Contract Considerations
Spring Cleaning: Review Your Contracts to Account for Ongoing COVID-19 Concerns Published June 2021

COVID-Related Construction Claims: 4 Key Strategies for Recovery Published February 23, 2021

Construction Claims in the COVID Era: Lessons Learned and Best Practices Published February 2021

COVID-Confusion: Force Majeure and Executive Orders Published September 25, 2020

Change Orders During the COVID-19 Pandemic—Managing Unexpected Construction Costs and Time Overruns Published July 20, 2020

COVID-19 Related Renovations: Key Terms Owners Should Include in All Construction Contracts Published June 24, 2020

Seeking Certainty in Uncertain Times: Employing Cost-Plus Construction Contracts in 2020 Published June 24, 2020

Best Practice with Notices for Force Majeure Events Published June 11, 2020

Find more NASBP Blogs on Force Majeure and Contract Consideration here.


Employer/Employee Assistance
Paycheck Protection Program Audits Are Upon Us—Borrowers Prepare! Published July 2021

PPP Loan Necessity Questionnaire Retired, Review Prep Still Critical Published July 19, 2021

Five Things to Know About PPP Loan Audits Published April 20, 2021

New PPP Loan Eligibility, Requirements, and Upcoming Deadlines Under the Most Recent Federal Stimulus Package Published April 2021

PPP Forgiveness: 7 Commonly Asked Questions and Answers Published February 2021

How To Tackle Unresolved First and Second Draw PPP Loan Issues Published February 18, 2021

New PPP Funding Hits the Streets - A Primer on What Businesses Should Know Published February 16, 2021

You Received a PPP Loan That Exceeds the Maximum Allowed - Now What? Published February 15, 2021

SBA Releases Trio of New Interim Rules Addressing Eligibility, Forgiveness, and SBA Review of First-Draw and Second-Draw PPP Loans Published January 29, 2021

Game Changer for SBA PPP $150K Loans—3508S Forgiveness Application Published January 22, 2021

PPP Loan Portal Reopens for First- and Second-Draw Loan Applications Published January 19, 2021

SBA Issues Regulations on New Round of PPP Loans Published January 11, 2021

Eligibility for a Second PPP Loan Published January 8, 2021

Find more Coronavirus-related NASBP blogs on Employer/Employee Assistance here.


Health & Well-being
How to Maintain a Positive Company Culture During COVID-19 Published November 20, 2020

May Is Mental Health Awareness Month: Together We Can STAND Up for Suicide Prevention Published May 19, 2020

Why Employee Assistance Programs Are Valuable During & After COVID-19 Published May 7, 2020

How to Help Your Employees Cope with the Stress of COVID-19 Published April 1, 2020

Understanding What Your Clients Are Going Through and How You Can Respond--Understanding the Cycle of Disruption, Anxiety, and Grief Published March 27, 2020


Other
COVID-19 and Border Crossings: Considerations and Best Practices for Global Constructors and Suppliers Published March 9,2021

COVID-19 Stimulus Relief and the Construction Industry Published March 8, 2021

The Impact of COVID-19 on Construction and Infrastructure Projects: An On-Site Perspective Published February 24, 2021

Out with the Old, In with the New: An Overview of Construction/Surety Industry Trends in 2020—What We Can Expect in 2021 and Beyond Published December 17, 2020

COVID-19 and the Construction Industry: Must Know Information for Executives Published December 2, 2020

Crisis-Era Message to Contractors: A Series from Dr. Tom Schleifer Multiple published dates

Subtle (and Not So Subtle) Effects of COVID-19 on the Construction Industry Published September 10, 2020

The Next Wave: COVID-19 Workers Compensation and General Liability Claims Likely to Spike Published August 25, 2020

Find more Coronavirus-related NASBP blogs on other topics here.



NASBP SmartBrief Logo


Sign-up for NASBP SmartBrief to get the week’s latest news on the coronavirus.

NASBP SmartBrief
, NASBP’s FREE e-newsletter, conveniently brings the news that matters to surety professionals, project owners, public officials, subcontractors, contracting officers and others every week.

For older issues of NASBP SmartBrief, visit the Archive.


Electronic Execution of Surety BondingNASBP AND SFAA URGE EMERGENCY ACTION REQUIRING ACCEPTANCE OF ELECTRONIC EXECUTION OF SURETY BONDING DURING THE COVID-19 PANDEMIC

Recent Articles Regarding Electronic Execution of Surety Bonding
"The Evolution of eBonds"
By Sheila E. Thompson of Rosenberg & Parker of Canada, Inc.
Surety Bond Quarterly, Fall 2021

"Does eBonding Need More Than an eSigning Solution?"
By Lorice Haig of Xenex Enterprises Inc.
Surety Bond Quarterly, Fall 2021

"NASBP and SFAA Issue Revised Electronic Surety Bonding Guidelines"
Pipeline, May/June 2021

"For Bonding Producers, Digitization Gives a Competitive Edge"
By Tugrul Topaloglu of Tinubu Square
Pipeline, March/April 2021

"Electronic Bonding, Digital Adoption, and COVID-19"
By Adam Gussen of Tinubu Square Americas
Surety Bond Quarterly, Winter 2020 

"Electronic Signatures for Surety Bonds: Widespread Adoption Needed"
By Larry LeClair of NASBP and Julie Alleyne of SFAA
Construction Executive, November 2020, Special Section: 18th Annual Contractors' Guide to Surety Bonding

"Moving Toward Digital Bonds – A Challenging but Necessary Endeavor"
By Mark H. McCallum of NASBP
NASBP Pipeline, September/October 2020, CEO Comments

Surety Industry Letters Sent to Federal, State, and Local Entities
The National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA) jointly have urged federal, state, and local officials, without delay, to issue emergency action regarding acceptance of the electronic execution and delivery of construction surety bonds and commercial surety bonds. 

View the press release: FINAL_Post_RequestForEmergencyActionRelease_4_6_20.pdf
View the white paper: SFAA-NASBP_Request_for_Emergency_Action_Federal_Memo.pdf
View the letter sent to Congressional leaders: SFAA-NASBP_Congressional_Request_for_Emergency_Order.pdf
View the letter sent to Federal Agency leaders: SFAA-NASBP_Federal_Request_for_Emergency_Action.pdf
View the letter sent to state governors: SFAA-NASBP_State_Request_for_Emergency_Action.pdf
View the accompanying white paper sent to state governors: SFAA-NASBP_Request_for_Emergency_Action_State_Memo.pdf
View the letter sent to municipal leaders: SFAA-NASBP_Municipal_Request_for_Emergency_Action.pdf
View the letter to the Chief Acquisition Officers Council: CAOC_Letter_42020.pdf

Government Agency Notices
Small Business Administration Procedural Notice
: Acceptance_of_Electronic_Signatures_in_the_Surety_Bond_Guarantee_Program__SBG_.pdf

U.S. Department of Defense issues Class Deviation
https://www.acq.osd.mil/dpap/policy/policyvault/USA000941-20-DPC.pdf 
Read the joint NASBP and SFAA press release: DOD_Joint_release_SFAA_NASBP_Final_5_5_20.pdf

General Services Adminstration issues order:GSA_CD-2020-05_-_Digital_Signatures_for_Bonds.pdf
Read the joint NASBP and SFAA press release: FINAL_GSA_Press_release.pdf



Virtual Seminar Logo


Sign up for recent NASBP Virtual Seminars regarding coronavirus. Registration is $89 for members, $179 for non-members. Consider the 2021 Virtual Seminar Annual Subscription ($995 available to Members only) if you'd like to have access to all of the NASBP Virtual Seminars at once.

The Hidden Advantages and Disadvantages of the Infrastructure Bill

Animated Suspension: Navigating the Changing Landscape of Construction Project Suspensions and Corresponding Impacts

Employee Retention Credit: Still Available and More Powerful in 2021

Systems Thinking (or Systems of Attention): How Surety Bond Producers Can Build and Nurture Client Relationships During Challenging Times

PPP Loans—Updates on Accounting, Tax, and Forgiveness Issues

The Road Ahead: What Sureties Need to Know to Work with Contractors in 2021

Building the Future During COVID-19: A Financial Advisor's Perspective

Critical Project Restart Strategies: Best Practices to Help Construction Firms Restart Projects

PPP Loans—Impacts and Planning Around Loan Forgiveness 

Getting the Band Back Together: Communications Among Your Contractor Team of Advisors to Assist with Current Challenges

Business Interruption Coverage Under COVID-19

Riding the Wave of Change: The Hi-Tech Human Connection

Planning Now to Prove Your COVID-19 Damages and Delays Later

False Claims Act and Enforcement Risks of the Paycheck Protection Program (PPP)

On the Legal Front Lines of the COVID-19 Pandemic: The Construction Industry Preparing for the Post-Pandemic Future

The Financial Implications of COVID-19 on the Bonded Project

Contractor's Guide: What You Should Know As You Manage Through the COVID-19 Environment

Force Majeure: Navigating the Impact Of The Coronavirus Pandemic On Contract Performance Obligations

The Ten Riskiest (and Most Negotiated) Construction Contract Terms

View the full catalog of NASBP Virtual Seminars—titles, descriptions, speakers  




Capital_Hill_Money.jpg
Paycheck Protection Program and other
CARES Act Information




The SBA is no longer accepting Paycheck Protection Program applications.

For those proceeding with PPP Loan Forgiveness, below are links to the forgiveness application forms, as well as instructions:


Update March 15, 2021:
SBA has posted updated PPP FAQs:


Update January 19, 2021:
SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources:


Update January 17, 2021:
SBA, in consultation with the Treasury Department, has recently released additional PPP guidance and resources:

As part of the Second Draw Borrower application, Applicants must enter the SBA loan number of the First Draw PPP loan (i.e. the loan that was originated in 2020).  SBA loan numbers have the following format to help borrowers identify the SBA loan number of their first PPP loan: XXXXXXXX-XX (i.e. eight numbers followed by a dash and then two more numbers).   PPP lenders should make SBA loan numbers easily accessible to their borrowers.


Update January 13, 2021:
SBA, in consultation with the Treasury Department, has recently released additional guidance:

SBA will reopen the Paycheck Protection Program loan portal to small lenders ($1B or less in assets) for First and Second Draw applications on January 15, 2021 at 9:00 a.m. ET. The portal will open to all participating PPP lenders on Tuesday, January 19, 2021 for First and Second Draw loan applications.

View all Paycheck Protection Program updates, information, and relevant NASBP Blogs here.


Let's Get Surety logo

NASBP Podcast
"Let's Get Surety"





Listen to coronavirus-related episodes of NASBP's new podcast "Let's Get Surety: Let Me Hear Your Bonding Talk." Our host Kat Shamapande will be joined by co-hosts and engaging guests to discuss the intersection of surety, the construction industry, and the coronavirus pandemic.

PPP Loan Updates: Where We Are With Round 1 and Round 2
Guest: Jack Callahan, CPA, Partner—Construction Industry Leader, CohnReznick

Coping with Stress with Dr. Will
Guest: Dr. Will Miller, Keynote Speaker at the NASBP November Virtual Event


A Look at the Commercial Surety Market During These Uncertain and Unprecedented Times
Guest: Brian Dahlke, Vice President, Commercial Surety—Major Markets, Crum & Forster

Managing Risks in a Rapidly Changing Insurance Market
Guest: David Dolnick, Founder, CEO, & Principal Consultant, Dolnick Risk Advisors

What to Consider Before Applying for PPP Loan Forgiveness
Guest: Martin McCarthy, NASBP CPA Advisory Council Participant and Managing Partner of McCarthy & Company

Advising Construction Clients: A Conversation with a Surety Bond Producer and a CPA
Guests:
NASBP Past President Bob Shaw, President of Skillings Shaw & Associates, Inc.
David Jean, a participant on the NASBP CPA Advisory Council and Principal at the CPA firm of Albin, Randall & Bennett 


Paycheck Protection Program and Surety Bonding—Part 2 of 2
Guest: Jack Callahan CPA, Partner – Construction Industry Leader at CohnReznick

Paycheck Protection Program: Flexibility, Updates, and Guidance—Part 1 of 2
Guest: Jack Callahan CPA, Partner–Construction Industry Leader at CohnReznick j

Surviving Crisis and Business Downturns in the Construction Industry
Guest: Dr. Tom Schleifer, retired construction executive, Arizona State University professor, and author of the blog, “Let’s Talk Business,” See his series of insights published as a NASBP Blog.  

The Paycheck Protection Program (PPP) from a CPA's Perspective
Guest: Julian Xavier, CliftonLarsonAllen

Stimulus Law Paycheck Protection Program and False Claims Act Risk
Guest: David Robbins, Crowell & Moring (now with Jenner & Block)

Seamlessly Managing the New Normal in the Workplace
Guests: Lori Demeyer and Kim Orsolits with CliftonLarsonAllen

Federal Construction Contracts and Excusable Delays
Guests: John Sebastian and Brian Padove, attorneys with Watt, Tieder, Hoffar & Fitzgerald, LLP

Taking a Closer Look at Force Majeure Clauses in Today's Environment
Guest: Mike Zisa, Chair of the Surety and Construction Related Insurance Defense Practice Group at Peckar & Abramson 

Making the Case for the Value of Electronic Bonding
Guest: Corban Enns, Area Vice President, Surety Solutions a Gallagher Company

Surety in This New World: Focusing on the People and Moving Forward
Guest: Peter Quinn, Senior Vice President of Major Markets – Surety at Crum & Forster

Steps for Contractors to Take Now and Rundown of Federal Relief Programs To-date due to COVID-19
Guest: Jack Callahan CPA, Partner - Construction Industry Leader at CohnReznick