The United States Department of Transportation has updated its protocols regarding the DOT’s Surety Bonding Education Program. As per the DOT and taken directly from their published circular,
The Surety Bonding Education Program (BEP) process includes:
Members of the transportation-related services industry and small business resource providers meet to review the parameters of the BEP implementation in the local market, determine resource requirements, and ascertain the role in which each stakeholder will play in carrying out the educational component and ensuring program’s success.
Educational Workshops Component
This component offers a set of comprehensive workshops:
- An introductory workshop on intake and logistics;
- Business and federal transportation project specific training. Each is designed to provide information to the small businesses related to improving their company’s operations, making it easier to be bonded or to increase their surety bond capacity; and
- A closing workshop focused on networking and next steps.
The Performance Bond Readiness Component
This component offers one-on-one interactions with local surety bond producers who volunteer to help small businesses. The surety bond professionals will work with the small businesses on a case-by-case basis to assemble the materials necessary for a complete bond application and address any omissions and/or deficiencies that might impede the successful underwriting of a bond. To deliver this component, the SBTRC uses the network of local surety associations to identify surety professionals in each local area who will volunteer to assist the small businesses to become bondable or increase their bonding capacity.
Follow-up and Assistance
This component offers coordination and monitoring of technical assistance provided to participants in the program. The SBTRC will help the small business identify and secure performance bonding for subsequent transportation-related projects. An element of the follow-up assistance may include the match making of program participants to transportation-related contracting opportunities available.
National surety leader, Surety One, Inc. focuses on supporting the bonding needs of the commercial, highway, heavy industrial and construction contracting industries. We offer the transportation class of performance bonds to applicants small and large. Visit SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.org for a performance bond application package or information about any surety bonding need. Recuérde que también asesoramos en SU idioma, así que comuníquese con nosotros, SU compañía afianzadora preferida para la fianza.