News Release

For Immediate Release 
Contact: Marla McIntyre 
202-686-7463; mmcintyre@sio.org

SIO RECOGNIZES LOCAL SURETY GROUPS FOR EXCELLENCE

APRIL 29, 2004, WASHINGTON, DC – The Surety Information Office (SIO) has named the recipients of the 2003 Gold and Silver Awards for Excellence in Surety Bond Promotion. The awards are presented annually by the Surety Information Office (SIO), the National Association of Surety Bond Producers (NASBP), and The Surety Association of America (SAA) to local surety associations that actively promote the benefits of surety bonds.

Five local surety associations received the Gold Award for Excellence in Surety Bond Promotion for conducting at least 10 activities to promote the use and image of contract surety bonds. Recipients include:

Three local surety associations received the Silver Award for Excellence in Surety Bond Promotion for conducting at least five surety promotional activities. Recipients include:

"The efforts of these local surety association members to educate their local communities on the importance and value of surety bonds makes them deserving of recognition and praise. The surety industry was well represented with these volunteer-driven initiatives and outreach to CPAs, bankers, lawyers, students and educators, private and public owners, and contractors," says Marla McIntyre, executive director of SIO.

The Silver and Gold Awards for Excellence in Surety Bond Promotion, sponsored by SIO, were presented April 28, 2004 at the National Association of Surety Bond Producers Annual Meeting in Marco Island, FL and also will be presented at The Surety Association of America Annual Meeting in Washington, DC on May 13, 2004.

Surety bonding is a careful, rigorous, and professional process in which surety companies and surety bond producers prequalify contractors to assure project owners that these contractors are capable of performing the contract and paying certain laborers, subcontractors, and suppliers. 

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SIO was formed in 1993 to disseminate information about the benefits of contract surety bonding in private and public construction. Located in Washington, DC, SIO is supported by the National Association of Surety Bond Producers (NASBP) [surety agents and brokers] and The Surety Association of America (SAA) [surety companies]. Surety bonding is a careful, rigorous, and professional process in which surety companies prequalify contractors and then assure project owners that these contractors are capable of performing the contract and will pay certain subcontractors and suppliers associated with the project.