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
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.