As a follow-up to our brief conversation after the hearing on H.R. 294 by the Subcommittee on Economic Opportunity, I am forwarding to you information about the Bonding Assistance Program (BAP) of the Department of Economic Development of the State of Louisiana. Under this program, eligible small and emerging construction businesses first receive educational training and coursework through the Louisiana Contractors Accreditation Institute (LCAI). Completion of the coursework is a
prerequisite for contractor eligibility for BAP. The coursework covers critical contracting business topics, such as bidding, estimating, scheduling, and contract, financial, and risk management and is taught in partnership with industry professionals. Such an approach is not dissimilar to the Model Contractor Development Program mentioned by Lynn Schubert, President of the Surety & Fidelity Association of America, at the recent subcommittee hearing.
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NASBP Letter Addressing Locality Requirements in VA Bid Bond