News Release

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

SIO RECOGNIZES LOCAL SURETY GROUPS FOR EXCELLENCE

APRIL 22, 2005, WASHINGTON, DC – The Surety Information Office (SIO) has named the recipients of the 2004 Gold and Silver Awards for Excellence in Surety Bond Promotion. SIO presents the awards annually 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 members of these local surety associations went above and beyond the call of duty to educate their local communities on the importance and value of surety bonds. The surety industry was well represented with these volunteer-driven initiatives and outreach efforts 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 13, 2005 at the annual meeting of the National Association of Surety Bond Producers in San Diego, CA and also will be presented at the annual meeting of The Surety Association of America in Chicago, IL on May 12, 2005.

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.