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SFAA Newsletter posted – January/February 2018 Edition

The 2018 January/February Edition of the SFAA Newsletter has been posted.  Beginning this year, each Newsletter will be available to the public. In addition to our regular Association news, we will be providing original content for our members and supporters to share. In this issue, we examine Carillion’s Collapse and Why Bonding Matters.

(for non-Members)

(for Members only)

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2003-2018 Case Summary lists updated

Case Summary Reports have been posted for Members, Subscribers, Claims Advisors and Case Summary Subscribers:

  • 2003-2018 Surety and Fidelity Cases Indexed by State/Topic
  • 2003-2018 Surety Cases Indexed by Topic
  • 2003-2018 Fidelity Cases Indexed by Topic
  • 2003-2018 Bail Cases by State

Members should navigate to the Claims page.
Subscribers should navigate to the Home / Subscriber Home Page.
Claims Advisors should navigate to the Home / Claims Advisors Home Page.
Case Summary Subscribers should navigate to Home / Case Summary Subscriber Home Page.

 

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SFAA Working on Oklahoma Bill that Prohibits Retainage When Bonds are in Place

  SFAA Working on Oklahoma Bill that Prohibits Retainage When Bonds are in Place 

SFAA and AIA are working with the local surety association in Oklahoma to address HB 2676, which would prohibit the withholding of retainage from the general contractor on public buildings and public works projects if bonds under the Little Miller Act are in place. Oklahoma’s bond threshold is $50,000, and existing law provides that not more than 5% of the contract price may be withheld. For subcontractors, the bill provides that either retainage of not more than 5% may be withheld or performance and maintenance bonds could be required as a condition of the subcontract.

Members should visit Government Relations / General Info (Members) for more information.

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SFAA Addressing Proposed Bond Threshold Increase and P3 Pilot Program in Vermont

  SFAA Addressing Proposed Bond Threshold Increase and P3 Pilot Program in Vermont 

SFAA is addressing HB 917, which would increase the bond threshold from $100,000 to $500,000.  As drafted, the bill would have provided for a $1 million bond threshold.  The bill also would provide for a pilot program for the Agency of Transportation to enter into public-private partnerships (P3s) for transportation infrastructure projects.  The state legislature would set the requirements and would have to approve each P3 project, unless the project will have a project lifetime cost that is less than $2 million or the project has been approved in the most recently adopted Transportation Program.  The bill does not specify a bonding requirement for this P3 program.  The program would expire on July 1, 2023.

Members should visit Government Relations / General Info (Members) for more information.