The construction industry as a whole is the largest source of surety bond requirements, yet finding comprehensive information about contract bonds can be challenging. That’s where the Surety Information Office comes in.
The National Association of Surety Bond Producers and the Surety & Fidelity Association of America formed a joint initiative to maintain the Surety Information Office (or SIO) in 1993 as a way to provide valuable contract bond resources to those who are invested in the construction industry.
The SIO reaches out to a number of stakeholders who are interested in learning more about surety bonds, including
- contractors and subcontractors
- public owners
- private owners and bankers
- design professionals
- surety providers
- educators and students
The SIO provides tailored information to each group to target specific surety bond concerns. For example, contractors and subcontractors can find an online library that features dozens of articles about various surety bond topics, from how to get a surety bond to the legal implications of the federal Miller Act.
For private project owners and bankers, the SIO explains why surety bonds are valuable to privately funded projects, as well as how to make a claim on a contract bond, if necessary. Public construction owners can learn how bonds protect taxpayer funds.
In addition to offering a number of guides and manuals about the surety bond process, the SIO also provides access to contract documents and standardized bond forms to help interested individuals familiarize themselves with surety products. Dozens of informative resources on the SIO website provide a wealth of detailed contract bond information to any construction professional.