Surety Bond Quarterly - Summer 2015 - 5

Contents

WHAT'S INSIDE
SUMMER 2015

22

FEATURES
12

Developing Your
Leadership Vision

27

Class Act - Surety Team's
Cooperative Efforts Enable
School to Open on Time
This surety team worked to
rectify problems to ensure
that a high school opened
on time.

BY RICK CIULLO

30

Liability Issues
Can public owners be held
liable to subcontractors
and suppliers for failure to
require general contractors
to obtain required
payment bonds? You'll want
the chart as a reference.

SUMMER 2015, VOL. 2, ISSUE 2

AN OFFICIAL PUBLICATION OF
THE NATIONAL ASSOCIATION OF
SURETY BOND PRODUCERS

www.suretybondquarterly.org

Celebrating
THE FACETS OF THE
WORLD OF SURETY

Meetings, Greetings, Perspectives,
Forms, Cautions, and Keeping the Promise

Profile: President Susan Hecker
Liability of Public Officials for Failing to Require Bonds
Collaborative Surety Team Saves the Day
www.nasbp.org

The AIA Describes
Updated and Expanded
Design-Build
Documents Family
Learn how these documents
are now more flexible and
enhance the building process.
BY SUSAN VAN BELL

34

What Can Go Wrong ...
Contractor practices that may
result in construction claims
to recover for delays and
increased costs.
BY RICHARD J. LONG

NASBP's Attorney
Advisory Council

36

NASBP Attorney Advisory
Council participants
opine on current risk
management challenges and
business opportunities.

NASBP Annual
Meeting Speakers
Veterans can benefit the
private sector, but need help
finding jobs.

DEPARTMENTS

BY TODD REGAN

Surety Bond Quarterly

32

BY JEFFREY M. FRANK

Understanding what you
stand for as a leader requires
that you first understand what
you stand for as an individual.

16

An Introduction to
Probate Bonds
Read this guide for bond
producers and other
surety professionals.

Profile: President
Susan Hecker
Get to know NASBP's
2015-2016 president.

14

22

ON THE COVER
Summer 2015
Many facets make up the world of suretyship.
Some of these facets are deliberated in this
issue of Surety Bond Quarterly. Read about
2015-2016 NASBP President Susan Hecker of
Arthur J. Gallagher & Co., the red flags all
contractors should know to avoid claims, the
importance of developing your leadership
signature, the latest editions of the American
Institute of Architects' design-build set of standard
form documents, when public owners may face
liability for failing to require payment bonds, and
underwriting nuances of probate bonds.

7

NASBP Upcoming
Meetings & Events

7

2015-2016 NASBP
Executive Committee

8

From the CEO

10

Practical Insights:
What You Need to Know

38

Index to Advertisers

View this and past issues
online anytime at
www.suretybondquarterly.org.

Surety Bond Quarterly is brought to you by the National Association of Surety Bond Producers, 1140 19th St. NW, Suite 800,
Washington, DC 20036-5104; Phone: 202.686.3700; Fax: 202.686.3656; www.nasbp.org. NASBP Manager: Kathy Jo Mapes Hoffman
Published by: Naylor Association Solutions, 5950 NW 1st Place, Gainesville, FL 32607; Phone: 800.369.6220; Fax: 352.331.3525;
www.naylor.com. Publisher: Heidi Boe, Editor: Rasha Slepow, Project Manager: Adam Lingenfelter,
Marketing: Edward Ottenga, Advertising Director: Doug Smith, Advertising Sales: Brian Donohoe, Shane Holt, Rick Jones,
Adam Lingenfelter, Daniel Narvaez, Jason Zawada, Layout & Design: Rajeev Mishra
©2015 NASBP. All rights reserved. The contents of this publication may not reproduced by any means, in whole or in part,
without the prior written consent of NASBP.
PUBLISHED JUNE 2015 * SBP-Q0215 * 1886

NATIONAL ASSOCIATION OF SURETY BOND PRODUCERS | WWW.NASBP.ORG

5


http://www.suretybondquarterly.org http://www.nasbp.org http://www.suretybondquarterly.org http://www.nasbp.org http://www.naylor.com http://WWW.NASBP.ORG

Table of Contents for the Digital Edition of Surety Bond Quarterly - Summer 2015

NASBP Upcoming Meetings & Events
2015-2016 NASBP Executive Committee
From the CEO - There is Poetry in Surety Claims, Surely
Practical Insights: What You Need to Know - Hiding in Plain Sight: Specifications as a Source of Risk
Profile: President Susan Hecker
Developing Your Leadership Vision
Liability Issues - Can Public Owners be Held Liable to Subcontractors and Suppliers for Failure to Require General Contractors to Obtain Required Payment Bond?
An Introduction to Probate Bonds
Class Act - Surety Team’s Cooperative Efforts Enable School to Open on Time
NASBP’s Attorney Advisory Council - Participants Opine on Current Risk Management Challenges and Business Opportunities
The AIA Describes Updated and Expanded Design-Build Documents Family
Contractor Practices That may Result in Construction Claims to Recover for Delays and increased Costs
NASBP Annual Meeting Speakers - Veterans can benefit private sector, but need help finding jobs
Index to Advertisers
Surety Bond Quarterly - Summer 2015 - cover1
Surety Bond Quarterly - Summer 2015 - cover2
Surety Bond Quarterly - Summer 2015 - 3
Surety Bond Quarterly - Summer 2015 - 4
Surety Bond Quarterly - Summer 2015 - 5
Surety Bond Quarterly - Summer 2015 - 6
Surety Bond Quarterly - Summer 2015 - 2015-2016 NASBP Executive Committee
Surety Bond Quarterly - Summer 2015 - From the CEO - There is Poetry in Surety Claims, Surely
Surety Bond Quarterly - Summer 2015 - 9
Surety Bond Quarterly - Summer 2015 - Practical Insights: What You Need to Know - Hiding in Plain Sight: Specifications as a Source of Risk
Surety Bond Quarterly - Summer 2015 - 11
Surety Bond Quarterly - Summer 2015 - Profile: President Susan Hecker
Surety Bond Quarterly - Summer 2015 - 13
Surety Bond Quarterly - Summer 2015 - Developing Your Leadership Vision
Surety Bond Quarterly - Summer 2015 - 15
Surety Bond Quarterly - Summer 2015 - Liability Issues - Can Public Owners be Held Liable to Subcontractors and Suppliers for Failure to Require General Contractors to Obtain Required Payment Bond?
Surety Bond Quarterly - Summer 2015 - 17
Surety Bond Quarterly - Summer 2015 - 18
Surety Bond Quarterly - Summer 2015 - 19
Surety Bond Quarterly - Summer 2015 - 20
Surety Bond Quarterly - Summer 2015 - 21
Surety Bond Quarterly - Summer 2015 - An Introduction to Probate Bonds
Surety Bond Quarterly - Summer 2015 - 23
Surety Bond Quarterly - Summer 2015 - 24
Surety Bond Quarterly - Summer 2015 - 25
Surety Bond Quarterly - Summer 2015 - 26
Surety Bond Quarterly - Summer 2015 - Class Act - Surety Team’s Cooperative Efforts Enable School to Open on Time
Surety Bond Quarterly - Summer 2015 - 28
Surety Bond Quarterly - Summer 2015 - 29
Surety Bond Quarterly - Summer 2015 - NASBP’s Attorney Advisory Council - Participants Opine on Current Risk Management Challenges and Business Opportunities
Surety Bond Quarterly - Summer 2015 - 31
Surety Bond Quarterly - Summer 2015 - The AIA Describes Updated and Expanded Design-Build Documents Family
Surety Bond Quarterly - Summer 2015 - 33
Surety Bond Quarterly - Summer 2015 - Contractor Practices That may Result in Construction Claims to Recover for Delays and increased Costs
Surety Bond Quarterly - Summer 2015 - 35
Surety Bond Quarterly - Summer 2015 - NASBP Annual Meeting Speakers - Veterans can benefit private sector, but need help finding jobs
Surety Bond Quarterly - Summer 2015 - 37
Surety Bond Quarterly - Summer 2015 - Index to Advertisers
Surety Bond Quarterly - Summer 2015 - cover3
Surety Bond Quarterly - Summer 2015 - cover4
Surety Bond Quarterly - Summer 2015 - outsert1
Surety Bond Quarterly - Summer 2015 - outsert2
Surety Bond Quarterly - Summer 2015 - 43
Surety Bond Quarterly - Summer 2015 - 44
https://www.nxtbook.com/naylor/SBPQ/SBPQ0118
https://www.nxtbook.com/naylor/SBPQ/SBPQ0417
https://www.nxtbook.com/naylor/SBPQ/SBPQ0317
https://www.nxtbook.com/naylor/SBPQ/SBPQ0217
https://www.nxtbook.com/naylor/SBPQ/SBPQ0117
https://www.nxtbook.com/naylor/SBPQ/SBPQ0416
https://www.nxtbook.com/naylor/SBPQ/SBPQ0316
https://www.nxtbook.com/naylor/SBPQ/SBPQ0216
https://www.nxtbook.com/naylor/SBPQ/SBPQ0116
https://www.nxtbook.com/naylor/SBPQ/SBPQ0415
https://www.nxtbook.com/naylor/SBPQ/SBPQ0315
https://www.nxtbook.com/naylor/SBPQ/SBPQ0215
https://www.nxtbook.com/naylor/SBPQ/SBPQ0115
https://www.nxtbook.com/naylor/SBPQ/SBPQ0414
https://www.nxtbook.com/naylor/SBPQ/SBPQ0314
https://www.nxtbook.com/naylor/SBPQ/SBPQ0214
https://www.nxtbookmedia.com