News Release

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

THE IMPORTANCE OF SURETY BONDS IN CONSTRUCTION

JULY 16, 2003, WASHINGTON, DC – The Surety Information Office (SIO) announces the publication of The Importance of Surety Bonds in Construction, which conveys the key points of contract surety bonds.

This quick-read brochure is the perfect introduction to contract surety bonds for contractors, public and private project owners, bankers, design professionals, educators and students, CPAs, and attorneys. This brochure explains:

• The history of surety bonds; 

• How surety bond protect against risks in construction;

• Types of bonds;

• The prequalification process; 

• Bond rates; and

• The benefits of bonding.

Free copies of The Importance of Surety Bonds in Construction and SIO’s other materials may be ordered online at www.sio.org or by contacting SIO at 202-686-7463; sio@sio.org.

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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.