This NASBP comment letter details how surety bonds protect private construction projects.
Topic
Advocacy, Construction Risk Management, Contract Surety, Payment Bond, Performance Bond, Prequalification
Publish Date
March 7, 2025
Region
Federal
Audience
Agents, Contractors, Owners, Sureties
Resource Type
Comment Letter
NASBP opposes HB 508 S3 which gives the UT Division of Facilities Construction Management the discretion to remove statutory performance and payment bonds.