On behalf of the members of the National Association of Surety Bond Producers (NASBP), a national trade organization of professional surety bond producers, whose membership includes resident and non-resident firms employing licensed surety bond producers placing bid, performance, and payment bonds throughout the U.S., including New Hampshire, I am contacting you as a follow up to my letter dated January 19, 2017, to the House Public Works and Highways Committee regarding our concerns with House Bill 371. While NASBP appreciates the Committee’s willingness to amend the bill by lowering the bond threshold increase from $150,000, as contemplated in the original bill, to $75,000, which aligns with other neighboring New England states, NASBP is extremely concerned with amendment 2017-0418h, which allows political subdivisions to waive the statutory bonding requirements of RSA 447:16-17.
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