On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association of surety bind producers, including licensed resident and nonresident producers placing bonds in the State of Georgia and in other jurisdictions, I am contacting you regarding the overly restrictive requirement that surety companies providing bonds for Douglas County projects must have an A.M. Best. Co. minimum financial strength rating of “A+.” This more restrictive requirement recently has come to our attention, prompting us to express our concerns to you about the substantial impact it will have.
Topic
Advocacy, Bid Bond, Construction Law and Contracts, Contract Surety
Publish Date
June 29, 2015
Region
Georgia, States
Audience
Agents, Owners, Sureties
Resource Type
Comment Letter, Resource Map
NASBP Letter Addressing Locality Requirements in VA Bid Bond