News Release

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

SIO OFFERS FREE EDUCATIONAL CD-ROM
ON SURETY BONDS FOR PUBLIC CONSTRUCTION

NOVEMBER 5, 2004, WASHINGTON, DC – The Surety Information Office (SIO) announces the release of an all-new, educational CD-ROM created especially for public construction administrators. Surety Bonds: A Guide for Public Construction is packed with answers to questions that public risk managers, municipal, state, and federal officials, “purchasing agents,” or any party involved in the administration of public works projects may have about the bonding process and how surety bonds protect taxpayer dollars. The CD features an easy-to-use interface that gives the user access to three audio-narrated presentations, which address managing risk on public works, contractor failure, and a surety claims case study.

Created with Macromedia Flash software, Surety Bonds: A Guide for Public Construction gives users full navigational control, access to SIO's most up-to-date online publications concerning public construction, and links to practical Web sites.

Free copies of Surety Bonds: A Guide for Public 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. Surety bonds provide financial security and construction assurance to the government and taxpayers alike. Savvy public administrators will take advantage of this new free resource to better understand the risk-management benefits of surety bonds and the contractor prequalification process.

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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 sureties prequalify contractors and assure project owners that these contractors are capable of performing the contract and will pay certain subcontractors and suppliers associated with the project.