I am contacting you on behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of agencies employing surety bond producers, including licensed resident and nonresident producers placing bid, performance, and payment bonds on both public and private projects in the State of California and all other jurisdictions. NASBP recently received and reviewed a copy of the bond forms (Bonds) and bond requirements set forth in the Metropolitan Transportation Commission (MTG) Next Generation Clipper® System Integrator RFP (Project). The terms and conditions of these Bonds and the bond requirements in general are counter to standard and prevailing surety industry practices and to the market reputation of the MTG as a desirable procurer of services. The practical effect to the MTG of these bond requirements is likely that there will be fewer bidders on the Project and higher prices due to less competition, with taxpayers shouldering unnecessary, additional costs.
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Supporters Request H.R. 1285, the Water Infrastructure Subcontractor & Taxpayer Protection Act, Receive Markup Which Is Pending Before the Transportation & Infrastructure Committee