Surety Liability Limits on the SF 25 and SF 25A – HNC Medical Repair and Renewal Contract Requirements

I am writing on behalf of the National Association of Surety Bind Producers (NASBP), a national trade association of member companies employi9ng surety bind producers, including licensed resident and nonresident producers placing binds for construction and infrastructure projects in the State of Alabama and all other jurisdictions. It has just come to our attention that an instruction issued on march 10 by the U.S. Army Corp of Engineers (USACE) to the MRR contractors stated that the Liability Limits shown on the SF 25 and SF 25A is the corporate surety’s maximum binding capacity, rather that the penal sum of the bond.

Read more…