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 resident and non-resident in the State of California. I was recently forwarded copies of materials relating to the RFP for the Design and Construction of Desalination Infrastructure for the Monterey Peninsula Water Supply Project. Within these materials is a requirement for a Proposal Bond, some of the terms and conditions of which give NASBP cause for concern.
Topic
Advocacy, Contract Surety, Infrastructure
Publish Date
July 17, 2013
Region
California, States
Audience
Owners
Resource Type
Comment Letter, Resource Map
Project Owners Beware – Don’t Eliminate Prime Bonds in Favor of Dual Obligee Status on Subcontract Bonds