Elimination of Performance Bond Requirement for UNH Project Comments

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 New Hampshire. NASBP was recently informed that the University of New Hampshire (UNH) has issued bid specifications for the McConnell Hall project, which has eliminated the usual and customary performance bond requirement and only includes the payment bond requirement. NASBP is concerned with UNH’s decision to eliminate the performance bond requirement for the dormitory renovation, which would protect the completion of the project and taxpayer funds.

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