Electronic Execution & Delivery of Surety Bonds
April 6, 2020
The Surety & Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP) urge federal, state and local officials, to issue immediate action regarding the acceptance of electronic execution and delivery of construction surety bonds and commercial surety bonds. They are urging that e-signatures and e-corporate seals be accepted where public officials are not already accepting these electronic forms.
“A majority of these construction surety bonds are required for infrastructure projects directly related to health, safety and the growth of our economy,” said SFAA President and CEO Lee Covington. “It is imperative to adopt a solution immediately for work on these critical projects to begin and continue, while maintaining important protections for small business construction firms, workers and taxpayers,” noted Covington.
To make this transition seamless and facilitate the electronic execution of surety bonds, Merchants made digital seals available to agents in mid-March. The seals are available on Merchants intuitive online bonding solution, the Hub.
As we acclimate to alternative work environments, Merchants is actively reviewing our policies and procedures to ensure our agents continue to receive first class experiences and convenient bonding.
If you have any further questions, please contact your underwriter or email email@example.com.
For information from SFAA, visit: https://www.surety.org/page/COVID