LSAs that have been awarded the SIO Awards for Excellence in Surety Bond Promotion exemplify industry best practices:
- Work with state legislators and local policymakers on issues such as onerous bond forms, bond thresholds, long-term warranties, mechanics liens, bond requirements and claims handling, bond tracking systems, and other issues affecting the surety industry.
- Give presentations to architects, city and county officials, college students, and contractors on topics including bonding emerging contractors, claims, and the state of the contract surety industry.
- Educate students at colleges and universities.
New & Emerging Contractors
- Educate small, minority, and women contractors, as well as new and emerging contractors, on how to obtain surety bonding, building solid surety relationships, and managing risk.
Contractors & Subcontractors
- Raise general contractors’ awareness about the value of surety bonding with presentations on construction defects, the basics of bonding, the surety industry outlook, construction contracts, succession planning, and how to obtain surety bonding.
- Volunteer for the National Association of Women in Construction’s Building Blocks Program, Habitat for Humanity, Harvesters Food Drive, and other industry organization events and activities.
- Offer scholarships or sponsor a Career Day.
- Meet with private project owners to discuss the value of contract surety bonds, and why contractors fail. Use SIO PowerPoint® presentations such as When You Build … Bond, Understanding the Benefits of Surety Bonding, Surety Bonds: The Sensible Choice for Managing Risk, and Why Do Contractors Fail? Leave them with Contract Surety Bonds: Protecting Your Investment.
- Encourage bankers and lenders to require contract surety bonds as a condition of a construction loan. Use SIO PowerPoint® presentations including Why Do Contractors Fail? and Investment Protection for Today’s Construction Lender. Leave them with Contract Surety Bonds: Protecting Your Investment and Surety Bonds: A Guide for Lenders.