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January 3, 2013
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Targeted news for the surety professional

  Industry News 
  • Surety is interviewing contractors to complete Fla. dredging project
    A bonding company is working with the Army Corps of Engineers in the search for a new contractor to dredge Stevenson Creek in Clearwater, Fla., after a second contractor was removed from the job, according to a Corps of Engineers spokeswoman. The heavily polluted creek estuary needs about 19 million tons of muck removed, but contractor disputes have stalled the project over the past two years. "The bonding company is interviewing contractors. The [Corps of Engineers] has said that they'll have a say-so in approving a new contractor," Clearwater's engineering director said. Tampa Bay Times (St. Petersburg, Fla.) (12/26) LinkedInFacebookTwitterEmail this Story
  • Supply distributor settles with feds over False Claims Act allegations
    A Lake Forest, Ill.-based hardware supply distributor will pay $70 million to the federal government as part of a settlement stemming from claims that it overcharged purchasers for the General Services Administration and the U.S. Postal Service. The GSA's Multiple Awards Schedule program for suppliers requires participating companies to agree to give the government the lowest price offered to commercial clients. The Justice Department alleges that the company gave inaccurate information during contract negotiations. Bloomberg (12/26) LinkedInFacebookTwitterEmail this Story
  • Experts: Expect green-building expansion globally in 2013
    Green building in the U.S. is expected to rebound this year, after Leadership in Energy and Environmental Design projects represented 20% of all new put-in-place construction in 2012, experts say. The greatest expansion of green building will be in retrofits, they predict. Other expected trends in green building for 2013 include automation of building management through the cloud, greater use of solar power, growing awareness of freshwater supply problems, the increasing presence of zero-net-energy buildings, and an acceleration of green building in places such as China, Singapore, the EU and Brazil. Sustainable Industries (1/1) LinkedInFacebookTwitterEmail this Story
  • Ind. AG sues foreclosure consultant
    The Indiana attorney general's office has filed a lawsuit against a California-based foreclosure consultant after a resident of Selma, Ind., paid $2,600 for credit services and consulting but allegedly never received a home-loan modification or a refund. The attorney general's homeowner protection office said the company did not have the $25,000 surety bond it needed to do business in Indiana. The Star Press (Muncie, Ind.) (1/1) LinkedInFacebookTwitterEmail this Story
  • Other News
  Policy Update 
  • Defense bill to change DOD small-business contracting
    The 2013 National Defense Authorization Act seeks to boost the role of small businesses in military contracting by increasing their presence during acquisition planning; reducing improper contract bundling to keep projects within reach of small companies; and removing a $3 million contracting limit on women-owned small businesses. Congress also has called for an independent assessment of the military's contractor base, with the goal of using a broader range of businesses to boost competition. President Barack Obama signed the defense bill this week. Federal Computer Week (12/21), CBS News/The Associated Press (1/3) LinkedInFacebookTwitterEmail this Story
  • Other News
  NASBP News 
  • Be sure you have a seat at the January 2013 NASBP William J. Angell Surety School
    The popular Winter Session of NASBP's William J. Angell Surety School is approaching fast. Participants have the opportunity to complete many of their required annual continuing education credits in the first month of 2013 by participating in the Winter School. Depending on their state, many students can fulfill from six to 24 credits by attending Level I of the school, and from six to 41 credits by attending Level II of the school. To find out how many credits the school qualifies for in a specific state, visit or contact Ann Latham at NASBP at Start off the new year on the right foot by giving yourself or your employees the gift of professional development and continuing education -- a long-lasting career benefit. Make your plans today to attend either the Level I School (Jan. 27 to 30) or the Level II School (Jan. 27 to Feb. 1), which will be held at the Houston Renaissance Greenway Plaza Hotel in Houston. For more information and to register, visit LinkedInFacebookTwitterEmail this Story
  • Pay one fee now for all 2013 NASBP Virtual Seminars and save $500
    Help your staff prepare for what they will face in 2013 by registering your company for the 2013 NASBP Virtual Seminars in advance for a discounted price of $995, a savings of $500. The 2013 NASBP Virtual Seminars will address many issues that surety professionals will find informative and timely this year. With an average of two live telephone presentations a month, this subscription offers a cost-effective and time-saving way to help keep staff and customers abreast of the industry's current issues, run your business profitably, and improve your and your staff's professional skills. Virtual Seminar topics and presenters are identified by members of the Virtual Seminar Editorial Board, who are experienced surety professionals. As part of this subscription package, you'll also have recordings of each Virtual Seminar e-mailed directly to you soon after they've occurred, including seminars you were unable to attend. Instead of buying each NASBP Virtual Seminar individually, buy a year's worth at this discounted price of $995. To buy the 2013 NASBP Virtual Seminar Subscription Series now, visit For more information about this subscription, go to or contact Cathrine Nelson at Information about upcoming Virtual Seminars is available at LinkedInFacebookTwitterEmail this Story
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  Market Trends 
  • IASB could clarify definitions for balance-sheet items
    The International Accounting Standards Board said in December that it should work to clarify accounting definitions for balance-sheet items such as revenue recognition, insurance contracts and leases after respondents in a study said stronger definitions would help make accounting easier for multinational companies. Respondents also said they wanted more clarity on how to account for intangibles. (12/28) LinkedInFacebookTwitterEmail this Story
  • Other News
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--Alfred Adler,
Austrian medical doctor and psychotherapist

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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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