SIO Surety Section Published in Construction Executive

Each year the Surety Information Office (SIO) develops the editorial content for the special Surety Section in Construction Executive magazine. The latest issue, November 2010, has been published and reprints now are available to order and download via the online SIO store.

The Surety Section contains a variety of articles including the 2010 surety market, Executive Insights, managing credit in the down cycle, public-private partnerships, contractor survivor profiles, the FASB proposal and its effect on contractors’ financial statements, producers’ advice to small contractors, legislation affecting contractors and the U.S. Department of Transportation (DOT) Bonding Education Program, which is based on the SFAA Model Contractor Development Program.

The Surety Section is an important product for the surety industry, because it reaches more than 117,000 construction business owners and top financial management readers with key messages supported by the surety industry. Thank you to all of the industry executives and advertisers for their contributions.

Comments and suggestions are welcome by contacting Marc Ramsey at mramsey@surety.org or 202-778-3629.

Call for Entries for 2010 SIO Awards

Be sure not to forget to mark February 4, 2011, on your calendars. This is the deadline for local surety associations (LSAs) and National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA) members to submit nominations for the SIO Awards for Excellence in Surety Bond Promotion and the Tiger Trust. 

All entries must be submitted via the online nomination forms available on the SIO awards website.

Judging will take place in early March, and awards and Tiger Trust plaques will be presented at the annual meetings of the NASBP and SFAA in the spring.

It is particularly important this year for LSAs and NASBP and SFAA members to review the criteria and rules for the awards, as the SIO Policy Board recently updated this information to provide clarity and better understanding about the types of promotional activities considered eligible for these awards. Examples of such promotional activities are provided to serve as a guide for LSAs.

The Policy Board also has established a new “Advocacy Award” for LSAs that significantly advocated for suretyship through initiatives other than public relations or educational efforts, such as through campaigns that opposed legislation that waived bonds or increased bond thresholds or campaigns that advocated for reasonable bond forms.

For complete details about the SIO awards and Tiger Trust, visit the SIO awards website.