[Congressional Record Volume 163, Number 59 (Wednesday, April 5, 2017)]
[Extensions of Remarks]
[Page E464]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 HONORING 75TH ANNIVERSARY OF THE NATIONAL ASSOCIATION OF SURETY BONDS

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                            HON. SAM GRAVES

                              of missouri

                    in the house of representatives

                        Wednesday, April 5, 2017

  Mr. GRAVES of Missouri. Mr. Speaker, I rise today to recognize the 
75th Anniversary of the National Association of Surety Bond Producers 
(NASBP). Formed in 1942, NASBP is a national trade organization 
representing firms employing licensed surety bond producers and allied 
professionals. NASBP producers specialize in providing surety bonds for 
construction contracts and for other purposes to companies and 
individuals needing the assurance offered by surety bonds. The NASBP 
bond producer stands as the bridge between the construction firm and 
the surety company and works closely with the construction business to 
position the business to meet underwriting requirements to obtain 
surety credit for bonded work. Surety bonds are a time-honored, vital 
component of federal and state procurement systems, where a furnished 
surety bond evidences a contractor's qualifications to undertake the 
contract sought and taxpayer funds are protected through the surety 
bond's guarantee of performance. Mr. Speaker, I want to again extend my 
good wishes and recognize NASBP on its 75th Anniversary, and I 
encourage my colleagues in the House of Representatives to do the same.

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