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January 31, 2013
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Targeted news for the surety professional

  Industry News 
  • No bond was required on nixed irrigation contract in Mo.
    A school board in Missouri has completed payment for the installation of an irrigation system at a baseball field and terminated its contract with the company responsible for the work. No performance bond was required for the project, which was supposed to include upgrades to the baseball field and other sports fields. State law requires such work to be advertised for bids, which didn't happen in this case, according to this article. Platte Chronicle (Weston, Mo.) (1/29) LinkedInFacebookTwitterEmail this Story
  • Governor: Guam to upgrade port with $50M from Defense Department
    Guam's economy is stable, and money from the federal government will be used to improve the island's port, according to Gov. Eddie Calvo. "We're gonna have about $50 million in Defense Department money to upgrade the port, so although the Marines haven't come in yet, buildup dollars are already being spent," he said. Calvo will advocate for the military buildup on the island during an upcoming trip to Washington, D.C. Pacific News Center (1/30) LinkedInFacebookTwitterEmail this Story
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  • Exhibit in April at NASBP's Annual Meeting and Expo in San Francisco
    Expand your customer base and form strategic partnerships with key surety industry decision-makers by exhibiting at the NASBP Annual Meeting and Expo. This meeting is the premier annual forum where the surety industry's leading surety bond agents and surety company executives meet to address common issues and to expand their business opportunities. The $2,200 booth fee includes one complimentary meeting registration valid for all meeting events and one complimentary booth registration valid for the exhibit hall only. The exhibit hall will be open from setup April 21 through April 23 at the NASBP Annual Meeting at the historic Fairmont San Francisco hotel in San Francisco. Registered exhibitors are invited to join the Automation and Technology Committee meeting on the afternoon of April 20, as well as the committee dinner that evening. Visit for more information on exhibiting and the schedule, as well as to register. If you have any questions, please contact Dave Golden at LinkedInFacebookTwitterEmail this Story
  • NASBP Feb. 5 Virtual Seminar: "Understanding the How and Why
    of ESOP Transactions"

    Join us from 2 to 3 p.m. Eastern time Tuesday for the NASBP Virtual Seminar titled "Understanding the How and Why of ESOP Transactions" and learn why surety professionals should understand employee stock ownership plans (ESOPs), an increasingly popular exit strategy for many construction companies. Of more than 12 million privately owned businesses in the U.S., 70% will be changing hands in the next 10 to 15 years. Many owners of these companies will have spent little time planning for retirement and even less time planning for how they will sell or transfer ownership of their companies. This presentation will examine case studies highlighting challenges faced by newly formed ESOP companies and how the adversity was managed, how the surety industry should be involved in the process, how the "fiscal cliff" and tax changes in 2013 could affect ESOPs, the terms of the transaction and how the valuation is performed, and how a company is affected before and after a leveraged ESOP transaction. Presenters from the CPA firm of Moss Adams include the firm's partners Elaine Ervin, CPA, and Dena Herbolich, CPA, as well as Wayne D. Fjeld, CFA, ASA, a senior manager of the firm's advisory services. Register now. LinkedInFacebookTwitterEmail this Story
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--John Gunther,
American author and journalist

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Contact NASBP
National Association of Surety Bond Producers
1140 19th Street, NW, Suite 800
Washington, DC 20036
Phone: (202) 686-3700
Fax: (202) 686-3656
Founded in 1942, NASBP is the association of and resource for surety bond producers and allied professionals. NASBP producers specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. NASBP producers engage in contract and commercial surety production throughout the United States, Puerto Rico, Guam, and a number of countries. They have broad knowledge of the surety marketplace and the business strategies and underwriting differences among surety companies. As trusted advisors, professional surety bond producers act in many key roles to position their clients to meet the underwriting requirements for surety credit.
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