On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of surety bond producers, including licensed resident and nonresident producers placing bonds in the State of Florida and in other jurisdictions, I am contacting you regarding the overly restrictive financial strength ratings for surety companies in the 2012 State Requirements for Educational Facilities (SREF). This new, more restrictive requirement recently has come to our attention, prompting us to express our concerns to you about the substantial impact they have on the construction community at large.
Topic
Advocacy, Bid Bond, Contract Surety
Publish Date
January 24, 2014
Region
Florida, States
Audience
Contractors, Owners
Resource Type
Comment Letter, Resource Map
NASBP Letter Addressing Locality Requirements in VA Bid Bond