Advice

Promotional (Silver, Gold, Platinum Awards)

• Presentations and meetings
• Meeting with obligees
• Workshops and seminars
• Exhibitions

Explanation of Criteria:

Promotional activities are those that LSA members conduct to reach a construction-related audience and encourage the use of contract surety bonds, particularly where such bonds may not be used otherwise. These activities may include exhibits, presentations or meetings with private or public owners, lenders, contractors, subcontractors or small and emerging contractors in an effort to convince the audience to use surety bonds. Efforts directed to lawyers and surety/insurance audiences are not eligible.

Examples:

1. An LSA member or group of LSA members presents to a private construction owner such as a hotel developer or private university on the use and protections of surety bonds, where the intended result would be a bond being required on a construction project.
2. An LSA member or group of LSA members presents to a construction company or group of contractors on a contract surety topic such as the importance of establishing a subcontractor bonding policy, where the intended result would be bonds being written.
3. An LSA member or group of LSA members works with or presents to a group of small, emerging, or minority contractors or small business conference or small business development center on how to obtain surety bonds, where the intended result would be first bonds being written.
4. An LSA member or group of LSA members presents to a construction lender or group of lenders on the protections of surety bonds and how to specify bonds as a condition of a construction loan, where the intended result would be bonds being written.
5. An LSA member or group of LSA members meets with a public project owner or representative such as a purchasing department to promote the use of surety bonds, where the intended result would be bonds being written.
6. An LSA member or group of LSA members presents to a private owner association or organization such as the Construction Owners Association of America in an effort to heighten awareness and understanding of the value and protections of contract surety bonds where the intended result is the increased use of surety bonds by members of the organization.

Please note:

1)      Participating in an MCDP^® or DoT Bonding Education Program counts as one activity. For example, if an LSA participates in three workshops as part of the Boston Bonding Education Program, those three workshops count as one activity toward an Surety Industry Award.

2)      Presentations to university students—undergraduate or graduate level—do not count.

3)      Presentations to CPAs do not count.

4)      Presentations as part of the NASBP William J. Angell Surety School do not count.

5)      Community service activities, while admirable, do not count toward surety promotional or advocacy activities.

Advocacy (Advocacy Award)

• Legislative efforts
• Contract and/or bond form advocacy
• Regulatory advocacy
• LSA participation in SFAA and/or NASBP Congressional fly-in events

Explanation of Criteria:

In contrast to promotional activities, advocacy efforts are those significant efforts that support, encourage, protect or promote suretyship through a variety of means, but are not necessarily conducted with the intention that surety bonds will be written as a result of the activity.

Examples:

1. An LSA member or group of LSA members meets with state legislative offices to explain the purposes and protections of surety bonds, where the intended result would be the decision not to waive bonds or increase the current bond threshold.
2. An LSA member or group of LSA members meets with or sends letters to a project owner or general contractor to explain the problem with a high rating requirement or onerous contract or bond language, where the intended result would be changes eliminating barriers to bonding.
3. An LSA member or group of LSA members presents to a construction company or group of contractors on a contract surety topic such as financial statements or the current surety marketplace, resulting in increased understanding and appreciation for the value and benefits of surety bonding and the surety relationship.
4. An LSA member or group of LSA members works with or presents on a surety bond topic to a group of small, emerging or minority contractors, a small business conference or a small business development center, resulting in greater understanding about the surety bonding process and the opportunity for new bonds to be written for these contractors.

Examples of Promotional and Advocacy Activities