Comments to WVDOH Secs 102 103 108 and 109 Contractor Prequalification Bonding

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of firms employing professional surety bond producers licensed and conducting business in West Virginia, I am contacting you concerning the proposed changes the Division seeks to make to Sections 102, 103, 108, and 109—Contractor Prequalification and Bonding. NASBP offers the following points for your consideration, which include: (1) the important role of the surety underwriter, (2) bonding for more or less than the contract amount and the potential impact on the number of bidders, and (3) the likely reluctance of sureties to furnish bonds because of the proposed changes.

Read more…