This NASBP comment letter discusses the impacts of a project owner requirement that companies furnishing bonds for contracts have an A.M. Best Co. minimum financial strength rating exceeding “A-“.
Topic
Advocacy, Contract Surety, Prequalification, Risk Management and Insurance, Small and Disadvantaged Business Matters
Publish Date
March 7, 2025
Region
Federal
Audience
Agents, Contractors, Sureties
Resource Type
Comment Letter
Project Owners Beware – Don’t Eliminate Prime Bonds in Favor of Dual Obligee Status on Subcontract Bonds