Surety Bond Quarterly - Fall 2014 - 20

working on contracts of a smaller dollar
value. With the recovery Act and
the National Defense Authorization
Act increasing the contract ceiling
eligibility for our program, a lot of
the small businesses are going to try
to get larger contracts. As they move
from a small dollar contract to a larger
dollar contract, some surety companies
are going to look for the SBA to
guarantee those bonds."
Gibbs concurred that the demand
is continually increasing. "As long as
there is a requirement by the federal
government to include small businesses
in procurement opportunities,
there will always be a demand for our
programs," Gibbs said.
lalumiere was quick to point out
that the Surety Bond Guarantee
Program succeeds only because of
the SBA's relationship with industry.
"If SBA were not in lockstep
with industry, we would not succeed.
Together, we help small businesses,"
lalumiere said, noting that
the relationship can be described as
an industry/government partnership
and is not unlike many other SBA programs
designed to assist the small
business community.
lalumiere said his office has an
excellent working relationship with
the surety industry, including with
the National Association of Surety
Bond Producers.
"There are a variety of initiatives
that SBA and the surety industry join
hands on to help small businesses,"
lalumiere said. "It runs the gamut
from revising our regulations to better
match best industry practices,
to conducting webinars and conferences
with small businesses, to trying
to educate the small business on the
surety bond process."
Gibbs said a very recent example
of partnership entails NASBP training
of key staff within the office of
Surety Guarantees.
"NASBP is going to be training
our staff about just how the industry
works," Gibbs said, noting that, upon
SBA's contact with NASBP, the organization
graciously offered to supply
producers to train government staff
in Denver, Seattle and Washington,
DC. "We are going to get a perspective
from the bond producers on how
they do things, and our staff will
get a better feel for what they are
dealing with."
lalumiere said these inaugural
tutorials will "allow us to see the
issues that the producers in the field
see because they are the ones who
have direct contact with the contractors.
We will get to see what
they experience."
Gibbs cited the good communication
between the SBA and its surety
partners as a principal means to
strengthen the partnership. "[Surety
professionals] have a good vehicle
with the NASBP, so if there are trends
or things that we need to address, I
think they feel free to communicate
with us what the issues are," Gibbs
said. "If we think their recommendations
are going to benefit small
businesses without increasing the
risks to SBA, we seriously consider
all of them."
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Surety Bond Quarterly - Fall 2014

Table of Contents for the Digital Edition of Surety Bond Quarterly - Fall 2014

2014-2015 NASBP Executive Committee
NASBP Upcoming Meetings and Workshops
From the CEO: Successful construction relationships require the right relationship
Practical Insights: What you need to know - bond and lien notice pitfalls
SuretyLearn.org: An invaluable resource
Advocacy update
Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Guarantee Program changes for the better
Front Line Underwriting: Choosing a quality construction CPA
Getting in the weeds: Requirements of marijuana surety bonds
Encrypting email
It’s Finally Here: The new revenue recognition standard
CPAs standing in the GAAP
Resource Directory
Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover1
Surety Bond Quarterly - Fall 2014 - cover2
Surety Bond Quarterly - Fall 2014 - 3
Surety Bond Quarterly - Fall 2014 - 4
Surety Bond Quarterly - Fall 2014 - 5
Surety Bond Quarterly - Fall 2014 - 6
Surety Bond Quarterly - Fall 2014 - NASBP Upcoming Meetings and Workshops
Surety Bond Quarterly - Fall 2014 - From the CEO: Successful construction relationships require the right relationship
Surety Bond Quarterly - Fall 2014 - 9
Surety Bond Quarterly - Fall 2014 - Practical Insights: What you need to know - bond and lien notice pitfalls
Surety Bond Quarterly - Fall 2014 - 11
Surety Bond Quarterly - Fall 2014 - SuretyLearn.org: An invaluable resource
Surety Bond Quarterly - Fall 2014 - 13
Surety Bond Quarterly - Fall 2014 - Advocacy update
Surety Bond Quarterly - Fall 2014 - 15
Surety Bond Quarterly - Fall 2014 - Nov. 12-3 Conference addresses the twists and turns of best value selection - and other timely topics
Surety Bond Quarterly - Fall 2014 - 17
Surety Bond Quarterly - Fall 2014 - Surety Bond Guarantee Program changes for the better
Surety Bond Quarterly - Fall 2014 - 19
Surety Bond Quarterly - Fall 2014 - 20
Surety Bond Quarterly - Fall 2014 - 21
Surety Bond Quarterly - Fall 2014 - Front Line Underwriting: Choosing a quality construction CPA
Surety Bond Quarterly - Fall 2014 - 23
Surety Bond Quarterly - Fall 2014 - 24
Surety Bond Quarterly - Fall 2014 - 25
Surety Bond Quarterly - Fall 2014 - Getting in the weeds: Requirements of marijuana surety bonds
Surety Bond Quarterly - Fall 2014 - 27
Surety Bond Quarterly - Fall 2014 - Encrypting email
Surety Bond Quarterly - Fall 2014 - 29
Surety Bond Quarterly - Fall 2014 - 30
Surety Bond Quarterly - Fall 2014 - 31
Surety Bond Quarterly - Fall 2014 - It’s Finally Here: The new revenue recognition standard
Surety Bond Quarterly - Fall 2014 - 33
Surety Bond Quarterly - Fall 2014 - CPAs standing in the GAAP
Surety Bond Quarterly - Fall 2014 - 35
Surety Bond Quarterly - Fall 2014 - 36
Surety Bond Quarterly - Fall 2014 - 37
Surety Bond Quarterly - Fall 2014 - 38
Surety Bond Quarterly - Fall 2014 - Resource Directory
Surety Bond Quarterly - Fall 2014 - 40
Surety Bond Quarterly - Fall 2014 - 41
Surety Bond Quarterly - Fall 2014 - 42
Surety Bond Quarterly - Fall 2014 - 43
Surety Bond Quarterly - Fall 2014 - 44
Surety Bond Quarterly - Fall 2014 - 45
Surety Bond Quarterly - Fall 2014 - 46
Surety Bond Quarterly - Fall 2014 - 47
Surety Bond Quarterly - Fall 2014 - 48
Surety Bond Quarterly - Fall 2014 - 49
Surety Bond Quarterly - Fall 2014 - 50
Surety Bond Quarterly - Fall 2014 - 51
Surety Bond Quarterly - Fall 2014 - 52
Surety Bond Quarterly - Fall 2014 - 53
Surety Bond Quarterly - Fall 2014 - 54
Surety Bond Quarterly - Fall 2014 - 55
Surety Bond Quarterly - Fall 2014 - 56
Surety Bond Quarterly - Fall 2014 - 57
Surety Bond Quarterly - Fall 2014 - Index to Advertisers
Surety Bond Quarterly - Fall 2014 - cover3
Surety Bond Quarterly - Fall 2014 - cover4
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