| 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. |
Category: Performance Bond Articles
Performance bond articles
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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bookmark_borderFiling to Update Surety Rules Manual status report updated
| Filing to Update Surety Rules Manual *XX-SM-10 report updated for Members on the Regulatory Filings / Countrywide Filings page. |
bookmark_borderSFAA Bill to Address Missouri Case Law on Bonding Public Works Projects Passed out of Committee
 | 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.
bookmark_borderSFAA’s Bill to Address Attorneys’ Fees Awards in Bond Claims Considered but not Enacted
 | 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.