Past Features

Mark McCallum: Education is everywhere and in everything we do!

Whenever I speak with a NASBP member, affiliate or associate, the importance of education, in the broadest sense of the word, always works its way into the conversation. I cannot really say that I am surprised by that constant occurrence, as I am an adherent to the belief that everything we do has some component of education, both in receiving ...

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Surety Up North: Canadian, U.S. Surety Industries Differ in Several Key Ways

In the northernmost sections of Canada, where the sun disappears for months each year during long, punishing winters, it’s not always easy to work outside and stay on schedule. A construction project anywhere on earth can hit a snag, but in the most remote areas of the world’s second-largest country in land mass, setbacks can be considerably more costly. The ...

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Training the Next Generation of Surety Talent

New people come to the surety industry with a wide variety of education and experience. Many companies like to recruit business graduates or those with strong accounting backgrounds. Others prefer liberal arts majors who have demonstrated critical thinking, strategic planning and communications skills. Whatever their backgrounds, however, these new talents rarely have any real knowledge of surety bonds and the ...

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The Top 10 Things Public Owners Should Know About Surety Bonds

Surety bonds on a public construction project offer an owner the best possible fiscal and risk management tool: (1) thorough prequalification of the contractor and assurance that the bonded contractor is qualified to perform the contracted obligation; (2) a guarantee that the contract will be completed if the contractor defaults on its performance obligation; and (3) payment of certain laborers ...

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School’s Back!

NASBP is pleased to announce that it is accepting registrations for the Winter Session of the William J. Angell Surety School from NASBP members, affiliates, and associates and from non-members. For more than three decades, the school has provided students with the opportunity to learn the business from the top surety producers and underwriters in the country. The 2015 Winter ...

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The Importance of Cracking the “WIP” Monthly

Although the construction industry generally seems to be picking up, gross profit margins continue to be tight. These continued tight margins make it ever so important to have timely, accurate, monthly financial statements so the proper business decisions can be made. Nothing drives the financial statements for a contractor more than the calculation of the under and overbillings on a ...

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Mark McCallum: Successful construction relationships require the right relationships!

Many might agree that it is a notable human tendency to grapple with complex systems through simplification. Simplification allows us to comprehend and to explain more readily to others. The fear quotient rises when we confront matters that appear overly complex; they become daunting unless we can segment issues into manageable elements. Each issue then can be addressed by a ...

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The Devil is in the Details: Bond and Lien Notice Pitfalls

“Did you send your statutory notices?” This question should be familiar to anyone involved in pursuing or defending against a bond or lien claim for nonpayment. Seasoned participants in the construction industry, from bond producers, to surety company personnel, to contractors at every tier, also know that it is just the beginning of the notice inquisition. “When did you serve ...

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An invaluable resource: NASBP’s SuretyLearn.org website enhances emerging contractors’ knowledge of the bonding process

NASBP’s new website, www.SuretyLearn.org, can pay big dividends for small and emerging construction contractors. The site is an invaluable resource that serves as an orientation tool to help small and emerging contractors understand contract surety bonds and how best to position themselves to achieve surety credit. For just $25, enrollees can take a seven-chapter online course that will teach them ...

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Advocacy Update: NASBP Legislative Fly-in sets stage for final push to pass individual surety measure

NASBP continues to build upon the momentum achieved during the NASBP Legislative Fly-in where attendees visited 60 offices representing 19 states, raising awareness of issues such as H.R. 776, the Security in Bonding Act of 2013, and the importance of including bonds in federal policy and legislation relating to public-private partnerships (P3s). Since the June 12 NASBP Fly-in, NASBP, along ...

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