Industry Comments on Policies of the Bureau of Overseas Building Operations – 03/01/2007

On behalf of the National Association of Surety Bond Producers (NASBP), an international organization of professional surety bond producers and brokers, representing over 5,000 personnel who specialize in surety bonding, including issuing bid, performance, and payment bonds for construction projects, I am writing you to request information about the bonding practices and procedures of the Bureau of Overseas Building Operations with respect to projects under its jurisdiction. It has come to my attention that, in some instances, contractors constructing overseas facilities have had to demonstrate their ability to obtain payment and performance bonds but, upon award, have not been required to furnish payment and performance bonds.

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