Related Links: Federal Government Bonding Basics: Individual Sureties Do federal contracting officers have the time and wherewithal to check the validity and worth of assets pledged by an individual surety to back a contractor? The National Association of Surety Bond Producers doesn't think so, and it has in the last year succeeded in winning passage in the U.S. House of Representatives of a bill that tightens up requirements so that individual sureties must back their guarantees witha Treasury bill or some other easily liquidated asset. Winning passage in the Senate will require more hard work and could make it harder
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.