Author: United States. Congress. Senate. Select Committee on Small BusinessPublisher:
ISBN:
Category :
Languages : en
Pages : 182
Book Description
Surety Bond Guarantee Program of the Small Business Administration
Author: United States. Congress. Senate. Select Committee on Small BusinessPublisher:
ISBN:
Category :
Languages : en
Pages : 182
Book Description
Small Business Administration's Surety Bond Guarantee Program
Author: United States. Congress. Senate. Committee on Small BusinessPublisher:
ISBN:
Category : Government publications
Languages : en
Pages : 556
Book Description
Small Business Administration's Surety Bond Guarantee Program
Author: United States. Congress. House. Committee on Small Business. Subcommittee on Procurement, Exports, and Business OpportunitiesPublisher:
ISBN:
Category : Digital images
Languages : en
Pages : 376
Book Description
Surety Bond and Lease Guarantee Programs of the Small Business Administration
Author: United States. Congress. Senate. Select Committee on Small BusinessPublisher:
ISBN:
Category : Government publications
Languages : en
Pages : 40
Book Description
Surety Bond Guarantee Program of the Small Business Administration
Author: United States. Congress. Senate. Select Committee on Small BusinessPublisher:
ISBN:
Category : Insurance, Surety and fidelity
Languages : en
Pages : 180
Book Description
Small Business Administration Program Review
Author: United States. Congress. House. Committee on Small Business. Subcommittee on SBA and SBIC Authority, Minority Enterprise, and General Small Business ProblemsPublisher:
ISBN:
Category : Small business
Languages : en
Pages : 304
Book Description
Sba Surety Bond Guarantee Program
Author: Congressional Research Congressional Research ServicePublisher: CreateSpace
ISBN: 9781505450101
Category :
Languages : en
Pages : 32
Book Description
The Small Business Administration's (SBA's) Surety Bond Guarantee Program is designed to increase small businesses' access to federal, state, and local government contracting, as well as private-sector contracts, by guaranteeing bid, performance, and payment bonds for small businesses that cannot obtain surety bonds through regular commercial channels. The program guarantees individual contracts of up to $6.5 million, and up to $10 million if a federal contracting officer certifies that such a guarantee is necessary. The SBA's guarantee ranges from 70% to 90% of the surety's loss if a default occurs. In FY2014, the SBA guaranteed 12,384 bid and final surety bonds with a total contract value of about $6.4 billion. A surety bond is a three-party instrument between a surety (who agrees to be responsible for the debt or obligation of another), a contractor, and a project owner. The agreement binds the contractor to comply with the contract's terms and conditions. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed. Surety bonds are viewed as a means to encourage project owners to contract with small businesses that may not have the credit history or prior experience of larger businesses and are considered to be at greater risk of failing to comply with the contract's terms and conditions. P.L. 112-239, the National Defense Authorization Act for Fiscal Year 2013, increased the program's bond limit, which had been $2 million since 2000, and was temporarily increased, from February 17, 2009, through September 30, 2010, to $5 million, and up to $10 million if a federal contracting officer certified in writing that a guarantee in excess of $5 million was necessary. Advocates of raising the program's bond limit argued that doing so would increase contracting opportunities for small businesses and bring the limit more in line with limits of other small business programs, such as the 8(a) Minority Small Business and Capital Ownership Development Program and the Historically Underutilized Business Zone (HUBZone) Program. Opponents argued that raising the limit could lead to higher amounts being guaranteed by the SBA and, as a result, increase the risk of program losses. This report examines the program's origin and development, including the decisions to (1) supplement the original Prior Approval Program with the Preferred Surety Bond Guarantee Program that provides a lower guarantee rate (not to exceed 70%) than the Prior Approval Program (not to exceed 80% or 90%, depending on the size of the contract and the type of small business) in exchange for allowing preferred sureties to issue SBA-guaranteed surety bonds without the SBA's prior approval; and (2) increase the program's bond limit.
Small Business Administration's Budget for Fiscal Year 1991
Author: United States. Congress. House. Committee on Small BusinessPublisher:
ISBN:
Category :
Languages : en
Pages : 126
Book Description
Oversight of the Small Business Administration's Finance Programs
Author: United States. Congress. House. Committee on Small Business. Subcommittee on Tax, Finance, and ExportsPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 108
Book Description
Small Business Administration's Performance & Accountability Report Fiscal Year ...
Author: United States. Small Business AdministrationPublisher:
ISBN:
Category : Small business
Languages : en
Pages : 336
Book Description