After a long hiatus as a free-standing policy committee, in 2015, the NASBP Executive Committee reinstated the NASBP International Committee due to the expanded growth of construction in overseas countries and to educate NASBP members on the complexity of international bonding requirements. Subsequently, the International Committee was reestablished to serve as a catalyst for initiatives within the Association, such as disseminating information pertaining to regulatory and compliance issues in the international marketplace and to create educational resources, so NASBP members can better advise their overseas contractor clients on international compliance requirements.

Jeff Reich of NASBP Member Florida Surety Bonds, Inc. was appointed the first Chair of the revamped Committee and was given the task of recruiting committee volunteers who had knowledge of bonding requirements in overseas markets and who would be willing to serve as subject matters expert on behalf of the Association. Other significant responsibilities of committee members included sharing their expertise while presenting at various educational panels and workshops, identifying countries where bonds are statutorily/regulatorily required and collaborating with sureties to obtain such information and to establish liaisons with liked-minded industry organizations such as the Pan American Surety Association (PASA) and the Surety Association of Canada (SAC).

Over the past several years, the Committee has fulfilled these goals and so many more, which include creating an educational website dedicated to international surety issues; hosting a NASBP Virtual Seminar with The Surety & Fidelity Association of America (SFAA) International Surety Committee, moderated by past International Committee Chair, Shelia Thompson of NASBP Member Rosenberg & Parker of Canada, Inc.; and hosting a NASBP “Let’s Get Surety” Podcast episode on the important and timely topic of digital bonds in Canada with Steve Ness, President of the Surety Association of Canada (SAC), and Thompson. Moving forward, recently appointed Chair, Michael Youngblut (pictured) of NASBP Member M&T Insurance Agency will continue to lead the charge, seeking clarification on bonding requirements on overseas contracts from owners, such as the Bureau of Overseas Buildings Operations (OBO) at the U.S. Department of State and the U.S. Army Corps of Engineers.

Should your business include clients who are engaged in construction in the international construction space, and you are willing to share your expertise, please consider becoming a member of the NASBP International Committee by filling out the NASBP Committee Request Form or contacting the Committee staff liaison Larry LeClair, Director of Government Relations, at lleclair@nasbp.org. The International Committee plays an important function in the Association and needs committed volunteers who are willing to serve as subject matter experts, so other NASBP members may gain knowledge in this sometimes confusing environment.

This Pipeline article is the ninth in a series describing how NASBP Committees are the cornerstone foundation of the Association. See the CEO Column that introduced this series, which was published in the March/April 2021 issue. See other Pipeline articles that describe the NASBP Industry Relations Committee, Government Relations Committee, Membership Committee, Professional Development Committee, Automation and Technology Committee, 5-15 Leadership Committee, Small & Emerging Business Committee, and Finance Committee. (NASBP login required.)