 | 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.
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Category: Surety Bond Articles
Surety Bond Articles
bookmark_border2003-2018 Case Summary lists updated
 | Case Summary Reports have been posted for Members, Subscribers, Claims Advisors and Case Summary Subscribers:
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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.
bookmark_borderSFAA Bill to Address Missouri Case Law on Bonding Public Works Projects Introduced
 | SFAA Bill to Address Missouri Case Law on Bonding Public Works Projects Introduced |
Missouri HB 2453 would amend the existing procurement law to clarify that bonds are require when a construction manager agency is used.
Members should visit Government Relations / General Info (Members) for more information.
bookmark_borderCPP Social Engineering Fraud Filing status report posted
| CPP Social Engineering Fraud Filing (SFAA-F-299; XX-FM-22; XX-FLC-15) Status Report posted for Members on the Regulatory Filings / Countrywide Filings (pending) page. |
bookmark_borderSFAA 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.
bookmark_borderSFAA 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.
bookmark_borderComprehensive Legislative Reports posted for Members
 | Comprehensive Legislative Reports for Commercial Surety, Contract Surety and Fidelity posted for Members. Navigate to: |
bookmark_borderERISA Dishonesty Bond Filing Status Report posted for SFAA Members
 | ERISA Dishonesty Bond (SFAA-F-303; XX-FM-24) Status Report posted for Members on the Regulatory Filings / Countrywide Filings page. |
bookmark_borderMassachusetts Form Filing Requirements – Fidelity and Crime Filings Status Report posted
 | Massachusetts Form Filing Requirements – Fidelity and Crime Filings Status Report posted for Members on the Regulatory Filings / Countrywide Filings page. |
bookmark_borderFidelity and Forgery Rules Manual updated
 | The Fidelity and Forgery Rules Manual has been updated with a Fidelity Rules Manual Exception page for Hawaii for Members and Subscribers (effective date 3/1/2018).
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