This NASBP publication addresses questions that public and private owners frequently ask about surety bonds and the surety bonding process. It is intended to eliminate owners’ misunderstandings and misconceptions about the surety product and the bonding process.
Topic
Bid Bond, Claims, Construction Law and Contracts, Construction Risk Management, Contract Surety, Payment Bond, Performance Bond, Public Private Partnerships, Questions and Answers
Publish Date
April 2, 2025
Audience
Agents, Owners, Sureties
Resource Type
White Paper
NASBP opposes HB 508 S3 which gives the UT Division of Facilities Construction Management the discretion to remove statutory performance and payment bonds.