News Release

For Immediate Release
Contact: Marc Ramsey 202-686-7463
mramsey@sio.org

MAKING THE GRADE: SIO OFFERS NEW SURETY CD FOR STUDENTS

June 16, 2006 WASHINGTON, DC - The Surety Information Office (SIO) has a new Macromedia Flash® CD designed to help educate students about contract surety bonds. This interactive, narrated CD provides a comprehensive overview of types of bonds, roles of the producer and underwriter, and how bonds differ from letters of credit and insurance. The CD also includes a contractor questionnaire, sample indemnity agreement, financial statement, and work in progress report.

The CD’s resources include:

• A case study on how the surety’s involvement saves projects;
• An in-depth “Study Guide” covering the many facets of surety bonding, the prequalification process, why contractors fail, claims handling, and the contractor-producer-surety relationship;
• How to Obtain Surety Bonds;
• Importance of Surety Bonds in Construction;
• AGC’s Overview of the Contract Surety Bonds Claims Process; and
• Surety Bonds at Work, a compilation of claims case studies.

SIO can also assist in finding a surety professional to speak to your class. Contact SIO at (202) 686-7463 or sio@sio.org. All of SIO’s products and materials - including Surety Bonds: A Guide for Students - can be ordered free via SIO’s online store at www.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 & Fidelity Association of America (SFAA) [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.