On behalf of the National Association of Surety Bond Producers (NASBP)1, a national trade association of firms employing professional surety bond producers licensed and conducting business in Washington and throughout the United States, I am contacting you regarding a shift in policy where the Department no longer requires bidders to furnish bid bonds on public works contracts. It is NASBP’s understanding that this policy change came into being under the belief that waiving bid bonds would facilitate contracting opportunities for small and disadvantaged businesses. If that is the rationale, it is mistaken for the reasons further enumerated herein.
Topic
Advocacy, Bid Bond, Contract Surety, Procurement and Delivery Methods, Small and Disadvantaged Business Matters
Publish Date
August 11, 2023
Region
States, Washington
Audience
Contractors, Owners
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