Standard Bond Forms
Where can I find contract documents and standardized bond forms?
- Consensusdocs.org is a consensus set of contract documents developed by a coalition of 20 construction associations.
- American Institute of Architects (AIA) Bond Forms and Contract Documents (Categorized by series number)
- EJCDC Bond Forms and Contract Documents – Available from the Engineers Joint Contract Documents Committee that represents the American Council of Engineering Companies (ACEC), National Society of Professional Engineers (NSPE), American Society of Civil Engineers – Construction Institute (ASCE), and Associated General Contractors of America (AGC).
- General Services Administration (GSA) Bid, Performance, and Payment Bond Forms and Contract Documents for public building construction
- For information on ordering a binder of Suretymaster bond forms, e-mail request to Suretymaster of America (formerly Jennes Bond Forms)
- Design-Build Institute of America (DBIA) Contract Documents (Categorized by series number)
- State Bond Forms can be accessed from some state Web sites [www.state.(insert 2-letter postal code).us]
- CCH Insurance Services for a variety of surety and fidelity bond forms
- Surety & Fidelity Association of America (SFAA) Standard Bond Form Numbering Index – searchable database of standard form numbers with bond form samples
How do I know I’m dealing with a reputable surety company?
Most large property and casualty insurance companies have surety departments. In addition, there are some companies for which surety bonds make up all or most of their business. In either case, in order for a company to write a surety bond in the United States, it must be licensed by the insurance department of one or more states. Although there are some exceptions, generally a surety company must be licensed in the state in which it is doing business or by the state where the obligation guaranteed by the bond is being performed.
- Resources to help you learn more:
- Surety Companies: What They Are and How to Find Out About Them
- State Insurance Departments license companies that write surety bonds. The state in which the surety company is domiciled is responsible for performing periodic examinations of the company, and will usually have the most information about the surety.
- The US Department of Treasury publishes a list of all surety companies qualified to write surety bonds on federal contracts.
- SFAA’s Bond Authenticity Program can assist with verifying the authenticity of a surety bond.
- Members of the National Association of Surety Bond Producers can provide information on surety companies and bonding requirements.
- Rating organizations that analyze and rate insurance companies’ financial strength:
What is the Treasury List, or T-list, and how can I get a copy?
Circular 570: Federal Treasury Listing of Qualified Sureties, also known as the T-list, provides a list of all surety companies qualified to write bonds on federal contracts. Access the T-list online at http://www.fiscal.treasury.gov/fsreports/ref/suretyBnd/c570.htm.
How do I get a bond?
Surety bonds are issued through surety bond producers, also known as agents and brokers, who are knowledgeable about the surety and construction industries. Surety bond producers usually work in agencies that specialize in surety bonds or in insurance agencies that have a sub-specialty in surety bonds.
The professional surety bond producer usually maintains a business relationship with several surety companies, which enables the producer to match a contractor with an appropriate surety company. A good surety company and surety bond producer will help a contractor maintain and increase its surety capacity. Names of producers specializing in surety bonds can be obtained from the National Association of Surety Bond Producers (NASBP). NASBP members adhere to professional standards that demonstrate professionalism, expertise, and innovation in surety bonding.
The following publications provide more information about obtaining a surety bond:
- How to Obtain Surety Bonds
- Obtaining, Maintaining & Effectively Using Surety Credit (NASBP) – Contact the National Association of Surety Bond Producers; (202) 686-3700.
- The Basic Bond Book (published by NASBP/AGC) – Contact the National Association of Surety Bond Producers; (202) 686-3700.
- General Contractors’ Manual (published by American Insurance Association)
Where can I find information on surety/insurance seminars, classes, and continuing education courses?
- The National Association of Surety Bond Producers (NASBP) offers CE credits through the William J. Angell Surety School, Annual and Regional meetings, and various seminars and symposia throughout the year.
- The Surety & Fidelity Association of America (SFAA) conducts seminars and meetings throughout the year. Some offer CE credit.
- The American Institute for Chartered Property Casualty Underwriters (AICPCU) and the Insurance Institute of America (IIA) offer coursework leading to professional designations and degrees such as Associate in Fidelity and Surety Bonding (AFSB).
- Independent Insurance Agents of America (IIAA) Virtual University provides articles and courses to increase your knowledge of insurance. No courses are filed for CE credit at this time.
- International Risk Management Institute (IRMI) and WebCE offer several insurance training and CE courses.
- The Construction Risk and Insurance Specialist (CRIS) continuing education (CE) program was developed by IRMI to make it much easier for insurance agents, brokers, CSRs, and in-house risk managers or insurance buyers to gain specialized expertise in construction insurance and risk management.
- The Reinsurance Association of America (RAA) offers educational seminars concentrating on the highly specialized field of reinsurance. Seminars focus on the complexities of reinsurance from the perspective of both buyer and seller.
How can I find out about state and federal legislation affecting surety?
- The National Association of Surety Bond Producers (NASBP)
- The Surety & Fidelity Association of America (SFAA)
- Public Works Bond Statutes (SFAA)
- Construction Bonds on Public Projects (e-mail NASBP with request)
- American Insurance Association
Is it possible to file a bond electronically?
- Surety Bonds in the 21st Century: A Guide to the Electronic Filing of Surety Bonds
- NASBP/SFAA Joint Automation Committee
How do I find out about bonding an international project?
How can emerging or minority contractors get bonds?
- Helping Contractors Grow: Surety Bonding for New & Emerging Contractors
- SFAA’s Model Contractor Development Program
- Small Business Administration’s Surety Bond Guarantee Program
- Contact the SBA’s Office of Surety Guarantees
- Contact an NASBP member producer in your state.
Where can I get information on subcontractor bonding?
- The Basic Bond Book (NASBP) – Contact the National Association of Surety Bond Producers; (202) 686-3700.
- Understanding Surety Bonding: A Guide for Subcontractors (NASBP)
Where can I find construction data?
- U.S. Census Bureau
- FMI US Construction Market Update and US Market Construction Overview
- Associated General Contractors of America (AGC)
- CIT Construction Industry Forecast
Where can I get surety industry statistics?
