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Michael Foster Elected to SFAA Board

February 13, 2013

On February 4, 2013 Michael Foster, Executive Vice President of Merchants Bonding Company™, was elected as Chair of the Contract Bonds Advisory Committee of the Surety & Fidelity Association of America (SFAA).


The SFAA is a trade association that performs a leadership role in promoting and preserving the use of fidelity and surety bonds to protect public and private interests. The SFAA constantly deals with issues such as attempts to increase bond amount thresholds, waiving bonds entirely, onerous bond and contract forms and many other issues that impact our industry. 


“Since Merchants is a bond-only company, our challenges are aligned with those of SFAA,” said Mike. “I am excited about the opportunity to help the SFAA achieve their goals by heading up the Contract Bonds Advisory Committee.” One of Mike’s first duties was to participate in a state of the surety industry presentation with current NASBP President Carl Dohn of Dohn & Maher Associates at AGC’s 2013 Conference on Surety Bonding and Construction Risk Management in Naples, FL. 


“Many of our challenges are constant and some are new,” said Mike. “I hope to work with SFAA and the entire committee in addressing these challenges. It will be a very busy and exciting two-year term for me. I appreciate Merchants giving me the opportunity to do this.” Merchants is honored to have Mike Foster in this prestigious position.  We are confident that Mike will do a fine job in this role.