On behalf of the National Association of Surety Bond Producers (NASBP), a national trade organization of professional surety bond producers, representing firms employing over 5,000 personnel who specialize in surety bonding, including issuing bid, performance, and payment bonds for construction projects and other commercial purposes, I am contacting you to express concerns with proposed rules impacting the administration of the corporate surety program by FMS. Specifically, FMS seeks to amend current regulations to clarify circumstances when a federal agency bonding approving official can decline to accept a
bond underwritten by a U.S. Department of Treasury certified surety and to amend existing procedures used by the U.S. Department of Treasury in adjudicating complaints by federal agencies against such sureties regarding their certificates.
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NASBP Letter Addressing Locality Requirements in VA Bid Bond