I am contacting you on behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of companies employing licensed surety bond producers, including those in California, about the requirements for consequential damages in Section 00 40 01 – Supplemental Conditions for the San Bernardino Valley College Gymnasium Project (Project). NASBP has just become aware of this consequential damages provision through our members, and we are also aware that San Bernardino Community College District (SBCCD) has responded to a question about capping the consequential damages, through Addendum 1, that it will not provide a consequential damages cap value. NASBP offers the following comments in support of capping the consequential damages on the Project.
NASBP Letter Addressing Locality Requirements in VA Bid Bond