SBA Raises Bond Limits For Disaster Work Program

Law360, New York (March 31, 2011, 3:46 PM EDT) -- The U.S. Small Business Administration said Wednesday it has finalized changes to its Surety Bond Guarantee program, including higher bond limits intended to help construction companies and others secure larger private and federal government contracts in disaster areas.

The regulatory changes are tied to the Small Business Disaster Response and Loan Improvements Act of 2008 and were originally published as part of a proposed rule in the Federal Register in April 2010, the SBA said.

Under the program, the SBA will partner with the surety industry...
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