The NASBP Government Relations Department has published a new resource on private-public partnerships (P3), titled “An Evergreen Document to Understanding P3s and Bonding
.” The publication details the history and importance of surety bonds and P3s. NASBP recognizes that P3s offer an alternative project delivery method for infrastructure development.
The use of P3s has become increasingly more attractive, and a number of states have passed legislation to enable privatization on public projects to meet growing infrastructure needs. This NASBP document provides information on the importance of including payment and performance bonds at 100% of the value of construction under a P3 Agreement. Additionally, the document offers insight on P3 laws that have already been enacted in 16 states.
Access the new NASBP publication at nasbp.org
or visit: https://www.nasbp.org/advocate/federal-resources