The NASBP Producer Communications Toolkit 2.0 includes resources for bond producers to share with their contractor clients and other project stakeholders. It also includes many exceptional guides for bond producers, including the following two. 

A NASBP Publication, “Frequently Asked Questions from Bond Producers about Their Role in the Contract Bond Claims Process,” offers insight for bond producers into the bond claims process and guidance when answering inquiries from obligees, principals, claimants, and others. The publication has 14 questions that present a scenario a bond producer might be faced with in the claims process, with helpful information and answers for each one. 

Also in the Toolkit 2.0 is this AGC Document “The Contract Surety Bond Claims Process,” which was developed by the Associated General Contractors of America. This publication describes the contract claims process in detail, including what obligees should expect in a performance default situation and what a claimant should expect in a payment bond claims situation.

The document starts from the beginning, “What is a surety bond?” The performance default section answers questions like “Can sureties help avoid performance defaults in the first place?” and “What are typical options available to the surety to remedy a performance default?”

The publication ends with a payment claims section discussing what payment bond claimants should expect and the importance of notice and time requirements. The publication also stresses the importance of communication between stakeholders throughout the claims process.

These are just some of the valuable free resources that the NASBP Producer Communications Toolkit 2.0 has to offer the NASBP membership to help them promote the surety product to construction project stakeholders. The NASBP Be Guaranteed to Succeed campaign site offers NASBP surety professionals many resources that can help educate clients, including project owners nasbp.org/guaranteed/owner, lenders nasbp.org/guaranteed/lender, architects nasbp.org/guaranteed/architect, and contractors nasbp.org/guaranteed/contractor. Visit the Toolkit 2.0 to learn more here: nasbp.org/guaranteed. Check out NASBP’s social media post every Friday to stay in the know about the NASBP Toolkit 2.0 Resources. #BeGuaranteedToSucceed #surety.