Request to require bonds on the Illiana Corridor Project

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association whose membership includes firms employing licensed surety bond producers placing bid, performance, and payment bonds throughout the United States and in Illinois, I am pleased to submit the following recommendations for the Illiana Corridor Project which the Department is considering delivering via public-private partnership (P3). Payment and performance security in the form of surety bonds are essential to the timely completion and execution of this project and must be included. These bonds must be set at 100% of the construction portion of the contract.

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