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Author : United States. Congress. Senate. Select Committee on Small Business
Publisher : Unknown
Page : 332 pages
File Size : 43,5 Mb
Release : 1980
Category : Government publications
ISBN : STANFORD:36105006318666
Author : United States. General Accounting Office
Publisher : Unknown
Page : 62 pages
File Size : 55,5 Mb
Release : 1980
Category : Insurance, Surety and fidelity
ISBN : STANFORD:36105126808257
Author : Congressional Research Congressional Research Service
Publisher : CreateSpace
Page : 32 pages
File Size : 41,7 Mb
Release : 2014-12-05
Category : Electronic
ISBN : 1505450101
The Small Business Administration's (SBA's) Surety Bond Guarantee Program is designed to increase small businesses' access to federal, state, and local government contracting, as well as private-sector contracts, by guaranteeing bid, performance, and payment bonds for small businesses that cannot obtain surety bonds through regular commercial channels. The program guarantees individual contracts of up to $6.5 million, and up to $10 million if a federal contracting officer certifies that such a guarantee is necessary. The SBA's guarantee ranges from 70% to 90% of the surety's loss if a default occurs. In FY2014, the SBA guaranteed 12,384 bid and final surety bonds with a total contract value of about $6.4 billion. A surety bond is a three-party instrument between a surety (who agrees to be responsible for the debt or obligation of another), a contractor, and a project owner. The agreement binds the contractor to comply with the contract's terms and conditions. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed. Surety bonds are viewed as a means to encourage project owners to contract with small businesses that may not have the credit history or prior experience of larger businesses and are considered to be at greater risk of failing to comply with the contract's terms and conditions. P.L. 112-239, the National Defense Authorization Act for Fiscal Year 2013, increased the program's bond limit, which had been $2 million since 2000, and was temporarily increased, from February 17, 2009, through September 30, 2010, to $5 million, and up to $10 million if a federal contracting officer certified in writing that a guarantee in excess of $5 million was necessary. Advocates of raising the program's bond limit argued that doing so would increase contracting opportunities for small businesses and bring the limit more in line with limits of other small business programs, such as the 8(a) Minority Small Business and Capital Ownership Development Program and the Historically Underutilized Business Zone (HUBZone) Program. Opponents argued that raising the limit could lead to higher amounts being guaranteed by the SBA and, as a result, increase the risk of program losses. This report examines the program's origin and development, including the decisions to (1) supplement the original Prior Approval Program with the Preferred Surety Bond Guarantee Program that provides a lower guarantee rate (not to exceed 70%) than the Prior Approval Program (not to exceed 80% or 90%, depending on the size of the contract and the type of small business) in exchange for allowing preferred sureties to issue SBA-guaranteed surety bonds without the SBA's prior approval; and (2) increase the program's bond limit.
Author : United States. Congress. House. Committee on Small Business. Subcommittee on SBA and SBIC Authority, Minority Enterprise, and General Small Business Problems
Publisher : Unknown
Page : 76 pages
File Size : 51,9 Mb
Release : 1983
Category : Insurance, Surety and fidelity
ISBN : PURD:32754076261472
Author : United States. Congress. House. Committee on Small Business. Subcommittee on Procurement, Exports, and Business Opportunities
Publisher : Unknown
Page : 376 pages
File Size : 42,9 Mb
Release : 1995
Category : Digital images
ISBN : UCR:31210013740368
Author : United States. Congress. Senate. Select Committee on Small Business
Publisher : Unknown
Page : 180 pages
File Size : 41,5 Mb
Release : 1975
Category : Insurance, Surety and fidelity
ISBN : PURD:32754077660524
Author : United States. General Accounting Office
Publisher : Unknown
Page : 28 pages
File Size : 43,8 Mb
Release : 1992
Category : Minorities
ISBN : UIUC:30112033995884
Author : United States. General Accounting Office
Publisher : Unknown
Page : 50 pages
File Size : 45,7 Mb
Release : 1986
Category : Insurance, Surety and fidelity
ISBN : UIUC:30112033988632
Author : United States. Congress. Senate. Select Committee on Small Business
Publisher : Unknown
Page : 44 pages
File Size : 49,6 Mb
Release : 1976
Category : Government publications
ISBN : STANFORD:36105006318633
Author : United States. Congress. Senate. Committee on Small Business
Publisher : Unknown
Page : 564 pages
File Size : 47,7 Mb
Release : 1982
Category : Government publications
ISBN : LOC:00185853226
Author : United States. Congress. Senate. Select Committee on Small Business
Publisher : Unknown
Page : 52 pages
File Size : 44,7 Mb
Release : 1978
Category : Insurance, Surety and fidelity
ISBN : LOC:00185855715
Author : United States. Congress. Senate. Select Committee on Small Business
Publisher : Unknown
Page : 44 pages
File Size : 51,5 Mb
Release : 1978
Category : Small business
ISBN : UOM:39015078696146
Author : Anonim
Publisher : Unknown
Page : 2 pages
File Size : 47,5 Mb
Release : 1992
Category : Insurance, Surety and fidelity
ISBN : UIUC:30112105126434
Author : United States. Congress. Senate. Committee on Small Business
Publisher : Unknown
Page : 156 pages
File Size : 42,6 Mb
Release : 1988
Category : Construction industry
ISBN : LOC:00185870042
Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Small Business
Publisher : Unknown
Page : 192 pages
File Size : 54,9 Mb
Release : 1976
Category : Government publications
ISBN : PURD:32754067061352