Coronavirus Resources & Info



NASBP_COVID_Resources.png Resources for NASBP Members and their Clients


With the uncertainty of the novel coronavirus and of its impact on the surety industry, NASBP wants to ensure that NASBP members have the most up-to-date and relevant information that pertains to their businesses and clients.

Below are resources with relevant COVID-19 information for your business including:
  • NASBP Blogs
  • NASBP Virtual Seminars
  • NASBP Podcast "Let's Get Surety"
  • NASBP SmartBrief enewsletter articles
  • CARES Act information
  • Electronic execution of surety bonding information, and more
Please check this webpage often, because NASBP will be updating it regularly with additional information and articles.

For information on the operating status of NASBP, click here.

Join us for the NASBP Virtual Event: Bonding with Bandwidth on Wednesday, May 20 from 1pm-4pm Eastern. For more information and to register for this complimentary event, click here. (Requires NASBP login.) 
For information on the NASBP Annual Meeting & Expo, click here



NASBP Blog Logo
Check out our latest blogs, with suggestions from NASBP Advisory Council Attorneys and CPAs, and others, on how to handle coronavirus-related delays, costs, and possible economic slowdown. See all NASBP Blogs here.


Force Majeure and Contract Considerations
Construction Project Shutdowns: Know Your General Contract Terms for Force Majeure, Suspension, and Termination Published April 9, 2020

COVID-19 and the Construction Industry: Looking Beyond Force Majeure to Recover Time and Costs for Delay Published April 9, 2020

Force Majeure Clauses and COVID-19 Published April 2, 2020

Federal Construction Contracts vs. COVID-19: An "Excused" Delay? Published Spring 2020

Force Majeure: Navigating the Impact of the Coronavirus Pandemic on Contract Performance Obligations Published Spring 2020


COVID-19 Force Majeure Notices for U.S. Construction: What's the Value of a General Notice? Published March 2020

A Force Majeure Trap Within Construction Contracts Published March 31, 2020

Force Majeure, Construction Delays, Labor Shortages and COVID-19 Published March 30, 2020

Is the Coronavirus Event a Force Majeure or Changed Condition Event? Published March 26, 2020

COVID-19 Impacts on Federal Government Contracts--Protecting Your Rights Associated with Delays & Suspensions of Work Published March 26, 2020

Coronavirus and Force Majeure Provisions in Construction Contracts: May I Be Excused? Published March 24, 2020

Potential Surety Coronavirus Defenses Published March 24, 2020

COVID-19 Impact on Federal Contracts: Confirming Acceptability of Performance Delays Published March 23, 2020

Planning Now to Prove Your COVID-19 Damages and Delays Later Published March 22, 2020

Signing a Construction Contract in the Middle of the Coronavirus Pandemic . . . Two Contract Clauses to Consider Published March 19, 2020

Construction Project Team Considerations Regarding COVID-19 Published March 19, 2020


Coronavirus and Construction Contracts Published March 18, 2020

Coronavirus Is Here: What Does That Mean for Your Project and Your Business? Published March 13, 2020

Coronavirus (COVID-19)—Guidance for Contractors Published March 13, 2020


State Considerations
New Jersey Allows Re-Opening of Non-Essential Retail and Construction Business, and In-Vehicle Gatherings, with Restrictions Published May 15, 2020

COVID-19 Update: What You Need to Know as New Jersey and New York Construction Projects Begin to Reopen Published May 15, 2020

Remediation of Contaminated Sites Executive Orders and NJDEP Updates on Extensions and Proposed Rules Published April 29, 2020

Washington State Reopens Some Construction, with Restrictions Published April 27 2020

Bay Area Further Restricts Construction in Response to COVID-19 Published April 22, 2020

COVID-19 Update—New Jersey and New York Executive Orders' Impact on Construction Projects Published April 10, 2020

Update to Empire State Development's Guidance to New York Governor's Executive Order No. 202.6 as it Relates to the Real Estate Industry: What Real Estate Services Are Considered Essential Businesses? Published April 10, 2020

Washington State Construction Storm Water General Permit Compliance in the Midst of a Global Pandemic Published April 7, 2020

New York—Limiting Construction Risk from the COVID-19 Outbreak Through Force Majeure Clauses Published April 3, 2020

COVID-19 and Florida Construction: Lessons from the Frontlines in New York, New Jersey, and Around the U.S. Published April 3, 2020

Stay-At-Home Orders and Work Restrictions with 50 State Matrix Published April 3, 2020

NYC DOB Tells Contractors How to Safely Wind Down Construction Sites Published April 1, 2020

Coronavirus Update: Is Your Construction Site Still Open? Updated March 30, 2020 (DC, DE, MD, NJ, NY, PA, VA)

Is the Coronavirus Event a Force Majeure or Changed Condition Event? Published March 26, 2020 (TX)

How Coronavirus Is Affecting the Construction Industry: An Evolving Tracker of Construction Shutdowns Across the United States Updated March 24, 2020; Originally Published March 20, 2020



Employer/Employee Assistance
PPP Loans: An Update to the Good Faith Certification Published May 15, 2020

SBA Issues Promised Good Faith Certification Guidance Published May 13, 2020

SBA Updates "Economic Uncertainy" Certification Guidance Published May 13, 2020

Paycheck Protection Program Loan Good Faith Certification Guidance Updated Published May 13, 2020

What Contractors Need to Know About the Paycheck Protection Program Published May 13, 2020

Proposed JOBS Credit Act Would Significantly Expand the CARES Act Employee Retention Tax Credits Published May 12, 2020

Why Employee Assistance Programs Are Valuable During & After COVID-19 Published May 7, 2020

Paycheck Protection Program Loan Safe Harbor Extended to May 14, 2020 Published May 6, 2020

Who CARES About My PPP Loan? Everyone. Published May 1, 2020

Paycheck Protection Program: After the Pay Comes the Chase Published April 29, 2020

False Claims Act and Other Potential Liability for Misuse of Paycheck Protection Program Loans Published April 28, 2020

Paycheck Protection Program: Understanding the Rules and Potential Options May Be Required to Maximize Loan Forgiveness Published April 27 2020

Ineligible PPP Borrowers Granted Safe Harbor Period to Return Money by May 7  Published April 24, 2020

SBA Issues New Guidance Regarding PPP—"Good Faith Rules and What You Should Know" Published April 24, 2020

How to Prepare for Replenishment of Paycheck Protection Program Funds and EIDL Expected This Week Published April 23, 2020

Paycheck Protection Program Provides Forgivable SBA Loans Published April 1, 2020 The SBA is now accepting Paycheck Protection Program applications from participating lenders. NASBP willl provide updates as they occur.  

CISA Issues Guidance on Identifying Critical Infrastructure Workers: Does Your Work Fall Within These Sectors? Published March 31, 2020

SBA Issues Paycheck Protection Program Guidance Published March 31, 2020 The SBA is now accepting Paycheck Protection Program applications from participating lenders . NASBP will provide updates as they occur.  

UPDATE: OMB, CISA, and DoD Issue New Guidelines Addressing Coronavirus Impacts on Federal Contractors Updated March 25, 2020; Originally Published March 23, 2020

SBA Loan Program for Businesses Economically Impacted by Coronavirus Published March 20, 2020 The SBA is now accepting Paycheck Protection Program applications from participating lenders. NASBP will provide updates as they occur.  


Pandemic Doesn't Have to Mean Pandemonium in the Workplace Published March 12, 2020


Financial Considerations
IRS Position on the Deductibility of Expenses Paid with PPP Loan Proceeds Published May 10, 2020

Tools for a Construction Lenders Toolbox in the COVID-19 Era Published May 5, 2020

Commercial and Construction Disputes Arising from COVID-19 Published April 14, 2020

A Contractor's Guide During the Coronavirus Pandemic 2.0 Published April 8, 2020

Government Response to Coronavirus May Impact Contractors' Working Capital--Be Prepared for the Implications Published March 30, 2020

Finding Stability in a Time of Crisis Published March 26, 2020

A Contractor's Guide for Protection During the Coronavirus Pandemic Published March 23, 2020

Surety Professionals Should Act Now to Help Contractors Prepare for an Economic Downturn Due to the Coronavirus Published March 18, 2020



Health & Well-being
May Is Mental Health Awareness Month: Together We Can STAND Up for Suicide Prevention Published May 19, 2020

Why Employee Assistance Programs Are Valuable During & After COVID-19 Published May 7, 2020

How to Help Your Employees Cope with the Stress of COVID-19 Published April 1, 2020

Understanding What Your Clients Are Going Through and How You Can Respond--Understanding the Cycle of Disruption, Anxiety, and Grief Published March 27, 2020


Other
The PPP Litigation Wave Is Coming: Anticipated "Qui Tam" Lawsuits Under the False Claims Act Published May 14, 2020
Other
Going Back to Work—Starting or Restarting a Construction Project During the Pandemic Published May 2020

Crisis-Era Message to Contractors: A Series from Dr. Tom Schleifer Multiple published dates

UPDATED Federal Stimulus Today, Federal Investigation Tomorrow: What TARP Can Tell Us About the Coming Wave of CARES Act Enforcement Published May 13, 2020

DOJ Brings First Payroll Protection Program-Related Criminal Case Published May 6, 2020

More Money More Whistleblowers? False Claims Act Risks in the Aftermath of the COVID-19 Pandemic Published April 27, 2020

COVID-19 Response Oversight: What to Expect from the Federal Inspectors General Published April 27, 2020

Impacts of COVID-19 on U.S. Infrastructure Projects Published April 23, 2020

Commercial and Construction Disputes Arising from COVID-19 Published April 14, 2020

Delays in Completion Coverage and the Coronavirus Published April 13, 2020

Stop Work Orders and Construction Project Site Abandonment Series: Part 2 - Construction Site Abandonment Published April 7, 2020

The Intertwined Business Worlds of Construction & Surety: Can the Surety Industry Weather the COVID-19 Storm? 
Published April 2, 2020

COVID-19 Update for Energy and Infrastructure Companies and Projects Published April 1, 2020

So the Government Shut Down Your Construction Project—What Next? Published March 31, 2020

Stop Work Orders and Construction Project Site Abandonment Series: Part 1 - Stop Work Orders Published March 31, 2020

Responsibility for Site Safety in a Coronavirus World Published March 31, 2020

Thinking About Public-Private Partnerships During an Economic Crisis Published March 26, 2020


NASBP SmartBrief Logo


Sign-up for NASBP SmartBrief to get the week’s latest news on the coronavirus.

NASBP SmartBrief
, NASBP’s FREE e-newsletter, conveniently brings the news that matters to surety professionals, project owners, public officials, subcontractors, contracting officers and others every week.

Below are recent SmartBrief editions with coronavirus coverage.

May 27 NASBP SmartBrief
May 20 NASBP SmartBrief
May 13 NASBP SmartBrief
May 6 NASBP SmartBrief
April 29 NASBP SmartBrief
April 22 NASBP SmartBrief
April 15 NASBP SmartBrief
April 8 NASBP SmartBrief
April 1 NASBP SmartBrief

March 25 NASBP SmartBrief

March 18 NASBP SmartBrief

March 11 NASBP SmartBrief



Brian S. Wood of Smith Currie offers this guidance to contractors and subcontractors related to their construction contracts, "Practical Considerations for Dealing with COVID-19" (March 18, 2020).


Electronic Execution of Surety BondingNASBP AND SFAA URGE EMERGENCY ACTION REQUIRING ACCEPTANCE OF ELECTRONIC EXECUTION OF SURETY BONDING DURING THE COVID-19 PANDEMIC

Update May 21, 2020:
SBA Procedural Notice informs all SBA employees and Surety Companies and Surety Agents involved in the Surety Bond Guarantee Program (SBG) that effective immediately they may utilize utilize electronic signatures in accordance with the performance standards outlined in this Notice on SBA Forms and other SBG documents requiring signatures. Read the Notice and standards required here:
Acceptance_of_Electronic_Signatures_in_the_Surety_Bond_Guarantee_Program__SBG_.pdf

Update April 30, 2020:
U.S. Department of Defense issues Class Deviation—Original Documents, Signatures, Seals, and Notarization. Contracting officers shall utilize the deviations from the Federal Acquisition Regulation (FAR) and the Defense Federal Acquisition Regulation Supplement (DFARS) to provide flexibility with regard to original documents, manual signatures, seals, and notarization in order to facilitate certain essential contracting procedures. 
Among the documents included in the Class Deviation to the Federal Acquisition Regulation and to the Defense Federal Acquisition Regulation supplement are federal bonds and related forms, including SF 24, Bid Bond, SF 25, Performance Bond, and SF 25A, Payment BondRead the class deviation: 
https://www.acq.osd.mil/dpap/policy/policyvault/USA000941-20-DPC.pdf 
Read the joint NASBP and SFAA press release: DOD_Joint_release_SFAA_NASBP_Final_5_5_20.pdf

Update April 20, 2020:
Letter to Chief Acquisition Officers Council: CAOC_Letter_42020.pdf

Update April 10, 2020: 
GSA issues order to accept e-signatures for surety bonds during the COVID-19 Pandemic. Read the order:GSA_CD-2020-05_-_Digital_Signatures_for_Bonds.pdf

Read the joint NASBP and SFAA press release: FINAL_GSA_Press_release.pdf

The National Association of Surety Bond Producers (NASBP) and the Surety & Fidelity Association of America (SFAA) jointly have urged federal, state, and local officials, without delay, to issue emergency action regarding acceptance of the electronic execution and delivery of construction surety bonds and commercial surety bonds. 
View the press release:
FINAL_Post_RequestForEmergencyActionRelease_4_6_20.pdf


NASBP and SFAA have composed a white paper describing the need for federal, state, and local officials to take immediate action regarding the acceptance of electronic bonds, including use of electronic signatures, seals, and powers of attorney, accompanying federal contracts. See the paper here: SFAA-NASBP_Request_for_Emergency_Action_Federal_Memo.pdf

View the letter sent to Congressional leaders: SFAA-NASBP_Congressional_Request_for_Emergency_Order.pdf
View the letter sent to Federal Agency leaders: SFAA-NASBP_Federal_Request_for_Emergency_Action.pdf

View the letter sent to state governors: SFAA-NASBP_State_Request_for_Emergency_Action.pdf
View the accompanying white paper sent to state governors: SFAA-NASBP_Request_for_Emergency_Action_State_Memo.pdf

View the letter sent to municipal leaders: SFAA-NASBP_Municipal_Request_for_Emergency_Action.pdf


Let's Get Surety logo

NASBP Podcast
"Let's Get Surety"





Listen to coronavirus-related episodes of NASBP's new podcast "Let's Get Surety: Let Me Hear Your Bonding Talk." Our host Kat Shamapande will be joined by co-hosts and engaging guests to discuss the intersection of surety, the construction industry, and the coronavirus pandemic.

Surviving Crisis and Business Downturns in the Construction Industry
In this episode, guest Dr. Tom Schleifer, retired construction executive, Arizona State University professor, and author of the blog, “Let’s Talk Business,” shares insights into how construction firms can survive the current COVID-19 crisis and resulting economic downturn hitting the construction industry. He cautions contractors to be wary of the wait and see a model of managing the current downturn, and to take a hard look now at cutting expenses to better weather this downturn. He discusses his analysis of data coming in now and compares it to the data and models from past economic downturns in the construction industry. See his series of insights published as a NASBP Blog.  

The Paycheck Protection Program (PPP) from a CPA's Perspective
In this episode, guest Julian Xavier with CLA shares some insights into the COVID-19 stimulus law Paycheck Protection Program (PPP) from a CPA’s perspective. He shares a high-level overview of the PPP loan, what happens once you receive the funds, what’s covered, or not covered, FTE requirements, the importance of tracking the funds, safe harbor, and steps for forgiveness. Julian helps to sort through the many questions around the Paycheck Protection Program as we await more guidance!

Stimulus Law Paycheck Protection Program and False Claims Act Risk
In this episode, guest David Robbins with Crowell & Moring share some insights into the COVID-19 stimulus law Paycheck Protection Program (PPP) and the False Claims Act Risk. He shares insight regarding the safe harbor time frame ending on May 7th, what to expect from impending audits and enforcement, and lessons learned from past disasters and the first round of PPP fund disbursements. You can also listen to the NASBP Virtual Seminar that David presents for a deeper dive into this important and timely topic, “False Claims Act and Enforcement Risks of the Paycheck Protection Program (PPP).”

Seamlessly Managing the New Normal in the Workplace
In this episode, guests Lori Demeyer and Kim Orsolits with CLA share some insights into managing the workplace without pandemonium during the COVID-19 pandemic and moving forward in the new world. They will share HR insight and advice for policy review, tailor-made plans that work best for each workplace, resources to help employees manage higher levels of stress, and planning for both coming into our offices or job sites and teleworking. 

Federal Construction Contracts and Excusable Delays
On this episode guests John Sebastian and Brian Padove attorneys with Watt, Tieder, Hoffar & Fitzgerald, LLP will discuss Federal Construction Contracts and more specifically the Federal Acquisition Regulation or FAR in light of the COVID-19 pandemic. They will share insights into, when and how to provide notice, the burden of proof, suspension of work, and the sovereign acts doctrine. As well as stressing the importance of reviewing your current contract documents and taking the pandemic into consideration as you move forward with new contracts during these uncertain times.

Taking a Closer Look at Force Majeure Clauses in Today's Environment
On this episode, Mike Zisa, Chair of the Surety and Construction Related Insurance Defense Practice Group at Peckar & Abramson shares insights into understanding force majeure clauses during the COVID-19 pandemic. The conversation touches on reviewing contracts, communications with owners, giving notice, and documentation. Additionally, Zisa highlights that there may be other avenues for recovery in existing contracts, so careful contract review is warranted.

Making the Case for the Value of Electronic Bonding
On this episode, Corban Enns, Area Vice President, Surety Solutions a Gallagher Company, shares experiences with and insights into the electronic bonding system NMLS and what helped lead stakeholders to transition to and value electronic bonds. We also discuss how the NMLS could be an example that could be used to streamline other types of bonds processes, especially in light of the remote work world in which we find ourselves.

Surety in This New World: Focusing on the People and Moving Forward
In this episode, Peter Quinn, Senior Vice President of Major Markets – Surety at Crum & Forster, shares how he and the team at Crum & Forster are getting back to business and keeping the focus on people and relationships during these unprecedented times. We discuss working and meeting remotely, digital seals and more.

Steps for Contractors to Take Now and Rundown of Federal Relief Programs To-date due to COVID-19
On this episode, Jack Callahan CPA, Partner - Construction Industry Leader at CohnReznick joins us to share action items that contractors should be considering now due to the current COVID-19 pandemic. If you are interested in getting more in-depth information you should check out the NASBP Blog Jack contributed titled, “Finding Stability In A Time of Crisis” and the NASBP Virtual Seminar, “Contractors Guide: What You Should Know As You Manage Through the Covid-19 Environment”.




Capital_Hill_Money.jpg
Paycheck Protection Program and other
CARES Act Information





The SBA is now accepting Paycheck Protection Program applications from participating lenders. NASBP will provide updates as they occur.  

Update June 1, 2020:
New PPP information has been posted to the SBA website:


Update May 25, 2020:
The Construction Industry Procurement Coalition delivered a letter, which asked for guidance on the PPP loan forgiveness program for small business government contractors.

Update May 22, 2020: 
SBA & Treasury have recently released additional guidance:
 

Note: These IFRs are being posted in advance of publication in the Federal Register. The official versions will appear in the Federal Register.


Update May 21, 2020: 
SBA & Treasury have recently released additional guidance:

  •  SBA Procedural Notice - Protection Program Lender Processing Fee Payment and 1502 Reporting Process - Read the notice here SBA_Procedural_Notice_5000-20028.pdf
    The purpose of this Notice is to inform Paycheck Protection Program (PPP) Lenders of the reporting process through which PPP Lenders will report on PPP loans and collect the processing fee on fully disbursed loans which they are eligible to receive.


Update May 19, 2020:
New PPP Information has been posted to the SBA website:

  • An updated Frequently Asked Questions Document (Question 48 – Released 5/19/20)
    • SBA is extending the deadline for lenders to electronically upload the initial SBA Form 1502 reporting information to the later of: (1) May 29, 2020, or (2) 10 calendar days after disbursement or cancellation of the PPP loan.


Update May 18, 2020:
New PPP information has been posted to the SBA website:

Note: This IFR is being posted in advance of publication in the Federal Register. The official version will appear in the Federal Register.


Update May 14, 2020:
SBA & Treasury have recently released additional guidance:

 
Update May 5, 2020:
SBA & Treasury have released additional information regarding the Paycheck Protection Program:


New Policy Guidance Effective April 28, 202

New Policy Guidance Effective April 24, 2020—Paycheck Protection Program Interim Final Rule

Report on Paycheck Protection Program Approvals as of April 16, 2020

Funds from this program:

  • Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;
  • Are potentially 100% forgivable if used for the above purposes; and
  • Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals
Based on the legislation, it may be helpful for interested business owners to gather the following information about their business:
  • 2019 Payroll--including the last 12 months of payroll
  • 2019 Employees--1099's for 2019 employees and independent contractors that would otherwise be an employee of your business. (Note: Do NOT include 1099's for services)
  • Healthcare Costs--all health insurance premiums paid by the business owner under a group health plan.
  • Retirement--your company retirement plan funding paid for by the company.
More information and forms:
NASBP Blogs on this subject:
SBA Issues Promised Good Faith Certification Guidance Published May 13, 2020

SBA Updates "Economic Uncertainy" Certification Guidance Published May 13, 2020

Paycheck Protection Program Loan Good Faith Certification Guidance Updated
 Published May 13, 2020

What Contractors Need to Know About the Paycheck Protection Program 
Published May 13, 2020

Paycheck Protection Program Safe Harbor Extended Until May 14, 2020 Published May 6, 2020

Who CARES About My PPP Loan? Everyone. 
Published May 1, 2020

Paycheck Protection Program: Understanding the Rules and Potential Options May Be Required to Maximize Loan Forgiveness Published April 27 2020

Ineligble PPP Borrowers Granted Safe Harbor Period to Return Money by May 7 Published April 24, 2020

SBA Issues New Guidance Regarding PPP—"Good Faith Rules and What You Should Know" Published April 24, 2020

How to Prepare for Replenishment of the Paycheck Protection Program Funds and EIDL 
Published April 23, 2020

SBA Issues Paycheck Protection Program Guidance Published March 31, 2020

Paycheck Protection Program Provides Forgivable SBA Loans Published April 1, 2020