NASBP works closely with surety companies, construction industry partners, and other key organizations to advance the use and understanding of surety bonding. NASBP also pursues partnering agreements with key groups, such as construction industry associations. These strategic partnerships enhance and expedite communications between the organizations on a variety of important issues, including the state of the surety market, the importance of bonding requirements to preserve payment protections, and effective risk management practices. NASBP's Industry Relations initiatives stem from its Industry Relations Committee. If you have an interest in joining the Industry Relations Committee, please contact Kathy Hoffman, Director, Communications.
The NASBP maintains close and productive working relationships with the major trade organizations representing surety companies in the United States, including The Surety & Fidelity Association of America and the American Insurance Association.
With these groups NASBP pursues a number of joint initiatives to benefit knowledge and use of surety bonds.
Surety companies may also join NASBP as affiliates to participate in NASBP events held throughout the year.
Click here for information on NASBP Membership.
Below is a list of links to web sites of various surety and Insurance organizations:
Surety bonds are an important and prevalent component for successful completion of private and public construction projects in the United States. In fact, contract surety bonds, in the form of bid, performance, and payment bonds, are statutorily required to be furnished by construction contractors performing public sector construction work at virtually all levels.
NASBP works to help educate end users about the surety product including public and private owners, public officials, construction contractors, the general public, and many others. Recently, NASBP developed a resource to help contractors who are seeking a bond for the first time.
New Resource Orients Small and Emerging Contractors to Bonding
NASBP developed the website, www.SuretyLearn.org, to help orient small and emerging contractors with bonding and obtaining surety credit. NASBP bond producers reference and direct clients to the website's resources to help these small business owners understand the bonding process. Click here to read the Engineering News-Record article that describes how NASBP continues to post materials to the website such as PowerPoints, articles, and forms. Also at the site is an online course ($25 registration fee).
NASBP Maintains Liaisons with Construction Organizations
NASBP also seeks out and maintains active liaisons with many organizations representing construction project participants, including associations representing public and private owners, design professionals, contractors and trade contractors.
Where possible, NASBP seeks partnering agreements with these organizations for the purpose of enhancing cooperation, collaboration, and information exchange for the betterment of the construction industry. Click here for more information about recent partnering agreements that NASBP has signed with construction industry associations.
Construction industry organizations with which NASBP has worked include the following groups: