Part 1 – Battling Surety Bond Fraud: Why Bond Verification Is So Important

In this insightful article by NASBP General Counsel Martha L. Perkins, discover practical strategies to protect yourself from bond fraud. Part 1, published in the Fall 2014 issue of the Fidelity and Surety Law Committee newsletter (pages 1 and 13-17), emphasizes the importance of verifying a surety’s legitimacy and ensuring the bond is authorized. It provides valuable guidance for contractors, subcontractors, suppliers, and obligees while also examining the legal authority of corporate and individual sureties to issue bonds and reviewing case law on fraudulent sureties and bonds. Part 2 of the article is available at NASBP.org.