The Surety & Fidelity Association of America (SFAA) and National Association of Surety Bond Producers (NASBP) in Washington, D.C. endorse House legislation that will maintain essential payment protections for subcontractors, suppliers, and workers on federal construction contracts of $150,000 or more. Sponsored by Congresspersons Nydia Velasquez (D-N.Y.) and Byron Donalds (R-Fla.), H.R. 2949 exempts the threshold in the Miller Act—a…
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Surety groups: Miller Act indexing exemption protects suppliers, subs
Sources: Surety & Fidelity Association of America (SFAA), National Association of Surety Bond Producers (NASBP), Washington, D.C.; CP staff SFAA and NASBP endorse House legislation that will maintain essential payment protections for subcontractors, suppliers, and workers on federal construction contracts of $150,000 or more. Sponsored by Congresspersons Nydia Velasquez (D-N.Y.) and Byron Donalds (R-Fla.), H.R. 2949 exempts the threshold in…
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