On behalf of the members of the National Association of Surety Bond Producers (NASBP), a national trade organization of professional surety bond producers, whose membership includes resident and non-resident firms employing licensed surety bond producers placing bid, performance, and payment bonds throughout the U.S., including North Dakota, I am contacting you regarding our concerns with Senate Bill 2146, which increases the statutory bond threshold on contracts awarded from $100,000 to $150,000. Such an increase would mean that many more taxpayer-funded construction contracts would be procured without the vital assurance of performance and payment guarantees.
Topic
Advocacy, Construction Law and Contracts
Publish Date
January 13, 2017
Region
North Dakota, States
Audience
Agents, Contractors, Owners, Sureties
Resource Type
Comment Letter, Resource Map
Supporters Request H.R. 1285, the Water Infrastructure Subcontractor & Taxpayer Protection Act, Receive Markup Which Is Pending Before the Transportation & Infrastructure Committee