Miscellaneous

Below are NASBP and other organization's guides and publications that can assist bond producers, surety underwriters, and contractors with issues they face daily.
    


  • What Are Surety Bonds? - This document describes how surety bonds on construction contracts provide critical prequalification of a bonded contractor and financial protection for the owner and certain subcontractors and suppliers. Architects who are knowledgeable about bonds are well positioned to advise owners about these premier project risk management tools.

  • What Are Sureties? - This document explains that most surety bonds are written by subsidiaries or divisions of insurance companies, which are regulated by state departments of insurance. Surety companies are authorized and qualified to do business by the state insurance commissioner where they are domiciled and in the jurisdiction where the bond is issued.
  • Who Are Surety Bond Producers? - This document describes how surety bond producers, who are regulated by state departments of insurance, are business professionals who specialize in providing surety bonds to contractors and subcontractors. The bond producer helps position the contractor to qualify for surety credit and plays “matchmaker” between the contractor and the surety company.

  • Answers to 30 Questions Architects Ask About Contract Surety Bonding - This document explains how an architect who understands the benefits of bonding construction contracts is better prepared to advise owners how surety bonds help ensure successful contract performance and build strong reputations. These 30 Q&As explain the benefits of bonds and how they play an essential role in the construction risk management process.