Need something new to share with your clients about surety bonding? Starting an email campaign to attract new business? There are now 14 new items in the NASBP Producer Communications Toolkit 2.0 for you to use! The NASBP Industry Relations Committee helped identify new resources that would help producers discuss the value of surety bonding with construction project stakeholders.

Let’s get into the new tools!

For Project Owners

NOT SO FAST: WHAT TO CONSIDER BEFORE TERMINATING YOUR GENERAL CONTRACTOR
This NASBP Blog post discusses what project owners should consider before terminating a contractor.

 

 

 

 

 

WHY PRIVATE CONSTRUCTION JOBS ARE REQUIRING SURETY BONDS, TOO
This article reviews the positive impacts surety bonds have on private construction projects.

 

 

 

 

 

 

 

 

WHY IS A PERFORMANCE BOND A PROJECT OWNER’S BEST FRIEND?
This NASBP Blog highlights how performance bonds protect a project owner and guarantee project completion.

 

 

 

 

 

 

NASBP SURETY SHORTS VIDEOS- “NINE THINGS SAVVY OWNERS SHOULD KNOW ABOUT BONDING”
These nine short videos convey the value and importance of surety bonding for project success and protecting owner investment and reputation. Each is 60 seconds or less.

 

 

 

For Architects

DESIGN PROFESSIONALS AS PAYMENT BOND CLAIMANTS?
This article describes the possibilities for architects and design professionals to claim on a payment bond. Included is a 50-state chart providing an overview of each U.S. state’s approach to design professionals as payment bond claimants.

 

 

 

 

 

 

For Construction Contractors

SURETY AND CONSTRUCTION ATTORNEYS’ PERSPECTIVE: SURETY PREQUALIFICATION GOES BEYOND THREE CS
This article highlights the importance of the surety prequalification process in assessing a contractor’s capabilities and includes an overview of the process.

 

 

 

 

 

 

A SUCCESSFUL SUCCESSION PLAN STARTS WITH A STRONG SURETY PARTNERSHIP
This article discusses four areas contractors should focus on to keep a strong surety program during a leadership transition.

 

 

 

 

 

 

 

10 TIPS TO IMPROVE CONSTRUCTION SITE PROJECT COMMUNICATIONS
This article includes an easily shared set of practices to ensure effective communication between all construction project stakeholders.

 

 

 

 

 

 

 

For Producers

EIGHT INSIGHTS INTO CONTRACT SURETY CLAIMS
This article reviews important things to know about contract surety claims, including typical types of claims, the importance of communications, use of mediation, and much more.

 

 

 

 

 

ISSUES WITH AUTOMATIC INCREASES TO THE BOND PENALTY
This article describes automatic increases to the bond penalty and why a waiver of notice could result in a substantial increase in risk, a risk that the surety may not want because it may want to accurately track and manage its ultimate exposure to a bond principal.

 

 

 

 

MYTHS VS FACTS: PAYMENT BOND MYTHBUSTERS
Exposing these payment bond myths leads to a better collective understanding of when our understanding of the rules needs to be modified to account for exceptions and when the rules may be flatly wrong and need to be busted once and for all. This can also be shared with industry stakeholders.

 

 

 

 

EXPLAINING THE VALUE OF SURETY BONDING
This article explains the importance of being able to describe the surety process and its importance. Included are recent examples of new items bond producers can use in their explanations: NASBP Surety Shorts videos and the Ernst & Young (EY) study The Economic Value of Surety Bonds.

 

 

 

 

 

Flyer about New CONTRACTOR BONDING EDUCATION AND MENTORING PROGRAM
This flyer can easily be shared with a prospective or current client who may benefit from the free Contractor Bonding Education and Mentoring program, which helps new and emerging contractors learn how to qualify for surety bonds.

 

 

 

 

NASBP SURETY SHORTS VIDEOS
These nine videos can be a fun and quick way to help educate and convey the value and importance of surety bonding for project success and protecting owner investment and reputation. They reveal the “Nine Things Savvy Owners Should Know About Bonding.” Share them project owners, contractor clients, project stakeholders, colleagues, and others.

Make sure to check out NASBP’s social media posts every Friday to learn more about these new NASBP Toolkit 2.0 resources and how you can share them with construction project stakeholders!

These are just some of the valuable free tips and guidance NASBP bond producers will find to help them promote the surety product to construction project stakeholders, including project owners nasbp.org/guaranteed/owner, lenders nasbp.org/guaranteed/lender, architects nasbp.org/guaranteed/architect, and contractors nasbp.org/guaranteed/contractor. Visit the Toolkit 2.0 to learn more here: nasbp.org/guaranteed.  #BeGuaranteedToSucceed #surety.