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 of 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 educate about the benefits of surety bonds.
Surety companies may also join NASBP as affiliates and construction CPAs may also join NASBP as associates. Click here for information on joining NASBP and the benefits of membership.
Below is a list of links to web sites of various surety and insurance organizations:
Surety bonds are important 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. NASBP provides a website, www.SuretyLearn.org, with resources for contractors who are seeking a bond for the first time.
Resources to Introduce Small and Emerging Contractors to Bonding
NASBP offers SuretyLearn for Contractors, a resource center to help orient small and emerging contractors with bonding and obtaining surety credit. NASBP bond producers reference and direct clients to these resources to help small business owners understand the bonding process. Among the resources are NASBP Virtual Seminars, podcasts, articles, videos, and forms to help small and emerging contractors familiarize themselves with surety industry topics, terms, and practices. Also, at the center is a free online course, the Contractor Bonding Education and Mentoring Program, jointly developed by NASBP and SFAA, to help new and emerging construction businesses, particularly minority-owned and other under-represented businesses, learn how to qualify for surety bonds.
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.
Construction industry organizations with which NASBP has worked include the following groups: