Bid Guarantees, Performance, and Payment Bonds, and Alternative Payment Protections Comments – 11/16/2012

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of firms employing professional surety bond producers, I am writing in response to the notice of information collection 9000-0045. Our membership of surety bond producers utilizes these Standard Forms regularly to assist contractors furnishing bid, performance, and payment bond security on federal construction contracts. These documents are vitally important to the furnishing of these bonds on federal contracts, and we wish to make you aware of issues arising from the use of the current SF documents and to request their revision accordingly. In each of these SF documents, there is a section to indicate the “TYPE OF ORGANIZATION” of the bond principal. The only choices provided for the type of organization are “individual,” “partnership,” “joint venture,” and “corporation.” It is worth noting that an alternative choice of “other” is not provided.

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