The National Association of Surety Bond Producers (“NASBP”) is a national trade association of professional surety bond producers, representing over 5,000 personnel who specialize in surety bonding, issuing bid, payment and performance bonds for the Nation’s construction projects and other types of bonds, such as license and permit bonds. The Surety & Fidelity Association of America (“SFAA”) is a national trade association of approximately 450 insurance companies that are licensed to provide surety and fidelity bonds. Among the memberships of NASBP and SFAA are those companies that place or write the vast majority of surety bonds in the District of Columbia.
NASBP and SFAA submit this written testimony for inclusion in the official record at the public oversight roundtable on Green Building Practices to be conducted by Councilmember Mary M. Cheh, Chairperson of the Committee on Government Operations & the Environment, on March 18, 2009. The performance bond requirements in the Green Building Act of 2006 (the “Act”) are of particular concern to NASBP and SFAA. In fact, NASBP and SFAA have articulated their concerns in writing and in person to District of Columbia regulatory agencies previously. Attached for your reference are copies of letters sent to Linda Argo, Commissioner of the Department of Consumer & Regulatory Affairs, dated August 13, 2007, and to George Hawkins, Director of the Department of the Environment, dated January 28, 2009.
NASBP Letter Addressing Locality Requirements in VA Bid Bond