We Get You The Best Prices On Insurance
bond articles
 | Case Summary Reports have been posted for Members, Subscribers, Claims Advisors and Case Summary Subscribers:
|
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.
| 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. |
 | 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.
 | 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.
 | Comprehensive Legislative Reports for Commercial Surety, Contract Surety and Fidelity posted for Members. Navigate to: |
 | ERISA Dishonesty Bond (SFAA-F-303; XX-FM-24) Status Report posted for Members on the Regulatory Filings / Countrywide Filings page. |
 | The Weekly Legislation Report posted has been posted. SFAA has replaced the monthly overview reports with the weekly legislative update on Surety & Fidelity legislation. Reports are available for Members on the Weekly Legislative Reports page. |
Members may sign up to receive email notifications by subscribing to the “Legislative-Regulatory Alert” group.
 | SFAA Bill to Address Missouri Case Law on Bonding Public Works Projects Passed out of Committee |
Missouri HB 2453 would amend the existing procurement law to clarify that bonds are required when a construction manager agency is used. The bill has passed out of committee in the House.
Members should visit Government Relations / General Info (Members) for more information.
 | SFAA’s Bill to Address Attorneys’ Fees Awards in Bond Claims Considered but not Enacted |
Washington SB 6428/HB 2852 would have placed reasonable limits on the award of attorney fees’ against sureties. The bill provided that the rights granted under current procurement law would have been the exclusive remedy for recovering attorneys’ fee for all disputes, including but not limited to coverage disputes involving a performance or payment bond required under the Little Miller Act. The legislation stalled in the House and died at the end of the session since bills do not carry over to 2019 in Washington.
Members should visit Government Relations / General Info (Members) for more information.
 | SFAA’s Bill in Indiana to Require Bonding in P3s Goes to Study |
Indiana HB 1301 would direct the Legislative Council to form an interim study committee to examine requiring performance and payment bonds for future public private partnership (P3) projects for the three P3 laws that SFAA sought to amend. As introduced, HB 1301 contained the amendments that SFAA drafted to require 100% bonds in all three P3 laws. The bill was amended twice to reduce the bond requirements from 100% to 50% and then down to 25% before it was amended again to send the issue to another study committee. HB 1301 has been sent to the Governor. There also are study provisions on bonding for any kind of P3 project in HB 1374 that the Governor has signed. HB 1374 also revises the existing law for the Indiana Finance Authority.
Members should visit Government Relations / General Info (Members) for more information.
