The Surety Bond Guarantee Program
Summary
An SBA standard operating procedure, SOP 50 45 4, The Surety Bond Guarantee Program. It explains for SBA personnel and participants the policies and procedures for the acceptance, control and processing of Prior Approval surety bond guaranty applications. It sets out general requirements for participation in SBA's Surety Bond Guarantee (SBG) program and specific procedures for its Prior Approval part. Topics listed include a general overview of the program, SBA's Surety Bond Guarantee Agreement, surety eligibility and participation requirements, co-surety and reinsurance, and contractor eligibility requirements.
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Full text
SOP 50 45 4 The Surety Bond Guarantee Program This SOP explains for SBA personnel the policies and procedures for the acceptance, control, and processing of Prior Approval surety bond guaranty applications. About this document and download This SOP explains for SBA personnel and participants the policies and procedures for the acceptance, control, and processing of Prior Approval surety bond guaranty applications. Use this SOP to understand general requirements for participation in SBA's Surety Bond Guarantee (SBG) program and specific policies and procedures for participation in the Prior Approval part of the SBG program. The following is a list of topics covered in this document. - General Overview of the Surety Bond Guarantee Program - SBA’s Surety Bond Guarantee Agreement - Surety Eligibility and Participation Requirements - Co-Surety and Reinsurance - Contractor Eligibility Requirements - Contract and Bond Eligibility - Application Process for the Prior Approval Program - Underwriting Considerations - Surety Oversight and Accountability - Office of Inspector General (OIG) Referrals For the Preferred Surety program, please see SOP 50 49. For claims and recovery information, please see SOP 50 46. Download .pdf File size: 562KB Effective : November 21, 2024 Owned by : Office of Capital Access Related Programs : Related programs: Surety Bonds Last updated January 23, 2025
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