FAR Case 2017-003, Letter to FAR Council requesting they implement regulations requiring that individual surety bonds are stable and secure assets in the control of the federal government – April 2, 2020

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association whose membership includes firms employing licensed surety bond producers placing bid, performance, and payment bonds throughout the United States and its territories, I am writing to express NASBP’s strong support of the proposed individual surety rule as outlined in FAR Case 2017-003. This rule will bolster the integrity of the federal bonding process by making certain that the assets supporting non-corporate surety bonds are sufficient and in the care of knowledgeable authorities protecting small businesses and taxpayer funds.

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