Surety Bond Guarantee Program PDF Download
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Author: United States. Congress. House. Committee on Small Business. Subcommittee on SBA and SBIC Authority, Minority Enterprise, and General Small Business Problems
Publisher:
ISBN:
Category : Insurance, Surety and fidelity
Languages : en
Pages : 76
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Book Description
Author: United States. Congress. House. Committee on Small Business. Subcommittee on SBA and SBIC Authority, Minority Enterprise, and General Small Business Problems
Publisher:
ISBN:
Category : Insurance, Surety and fidelity
Languages : en
Pages : 76
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Book Description
Author: Congressional Research Congressional Research Service
Publisher: CreateSpace
ISBN: 9781505450101
Category :
Languages : en
Pages : 32
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Book Description
The Small Business Administration's (SBA's) Surety Bond Guarantee Program is designed to increase small businesses' access to federal, state, and local government contracting, as well as private-sector contracts, by guaranteeing bid, performance, and payment bonds for small businesses that cannot obtain surety bonds through regular commercial channels. The program guarantees individual contracts of up to $6.5 million, and up to $10 million if a federal contracting officer certifies that such a guarantee is necessary. The SBA's guarantee ranges from 70% to 90% of the surety's loss if a default occurs. In FY2014, the SBA guaranteed 12,384 bid and final surety bonds with a total contract value of about $6.4 billion. A surety bond is a three-party instrument between a surety (who agrees to be responsible for the debt or obligation of another), a contractor, and a project owner. The agreement binds the contractor to comply with the contract's terms and conditions. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed. Surety bonds are viewed as a means to encourage project owners to contract with small businesses that may not have the credit history or prior experience of larger businesses and are considered to be at greater risk of failing to comply with the contract's terms and conditions. P.L. 112-239, the National Defense Authorization Act for Fiscal Year 2013, increased the program's bond limit, which had been $2 million since 2000, and was temporarily increased, from February 17, 2009, through September 30, 2010, to $5 million, and up to $10 million if a federal contracting officer certified in writing that a guarantee in excess of $5 million was necessary. Advocates of raising the program's bond limit argued that doing so would increase contracting opportunities for small businesses and bring the limit more in line with limits of other small business programs, such as the 8(a) Minority Small Business and Capital Ownership Development Program and the Historically Underutilized Business Zone (HUBZone) Program. Opponents argued that raising the limit could lead to higher amounts being guaranteed by the SBA and, as a result, increase the risk of program losses. This report examines the program's origin and development, including the decisions to (1) supplement the original Prior Approval Program with the Preferred Surety Bond Guarantee Program that provides a lower guarantee rate (not to exceed 70%) than the Prior Approval Program (not to exceed 80% or 90%, depending on the size of the contract and the type of small business) in exchange for allowing preferred sureties to issue SBA-guaranteed surety bonds without the SBA's prior approval; and (2) increase the program's bond limit.
Author: United States. Congress. Senate. Select Committee on Small Business
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 326
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Book Description
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 556
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Book Description
Author: United States. Congress. House. Committee on Small Business. Subcommittee on Procurement, Exports, and Business Opportunities
Publisher:
ISBN:
Category : Digital images
Languages : en
Pages : 376
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Book Description
Author: United States. Congress. Senate. Committee on Small Business
Publisher:
ISBN:
Category : Construction industry
Languages : en
Pages : 144
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Book Description
Author: United States. Congress. Senate. Select Committee on Small Business
Publisher:
ISBN:
Category : Insurance, Surety and fidelity
Languages : en
Pages : 180
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Book Description
Author: Annette Thau
Publisher: McGraw Hill Professional
ISBN: 0071378944
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
In today’s volatile financial environment, growing numbers of investors are looking to flee the stock market in search of safer ground. While the bond market has often been a “safe haven,” confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to choose the correct fixed income investments. The Bond Book provides investors with the information and tools they need to make bonds a comforting, important, and profitable component of their portfolios.Thoroughly revised, updated, and expanded from its bestselling first edition, this all-in-one sourcebook includes:*A new section on using the Internet to research, buy, and sell bonds*A new chapter devoted to increasingly popular foreign bonds*Detailed information on the inflation-linked Treasury bonds*Explanation of the new categories of bond funds*Tips on how to evaluate and buy bond funds
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Insurance, Surety and fidelity
Languages : en
Pages : 62
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Book Description
Author: Kiyoshi Kobayashi
Publisher: Thomas Telford Publishing
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 264
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Book Description
"Joint Ventures in Construction 2: Contract, Governance, Performance and Risk is the selected proceedings of a series of International Conferences on Multi-national Joint Ventures for Construction Works, held each year since 2005. This book brings together the highlights from the 2008-2011 conferences...." --Back cover.
