NASBP and ASA Strengthen Alliance, Benefitting Risk Environment for Construction
The National Association of Surety Bond Producers (NASBP) and the American Subcontractors Association (ASA) announced today an enhanced strategic alliance to strengthen mutual efforts supporting equitable risk environments for the benefit of construction projects and parties.
The formal agreement between the longtime collaborators furthers a working relationship to amplify each organization’s capabilities on surety and risk management initiatives and on advancing legislative and regulatory policies beneficial to subcontractor interests, including their access to bonding. Bonding is critical to subcontractors, as bonding facilitates greater opportunities for them to bid and win public work, invest in their operations, create and preserve jobs, and contribute to the overall growth of construction and the U.S. economy.
“There is tremendous, untapped opportunity for surety bond producers and subcontractors to work together to keep construction projects moving forward,” said NASBP Chief Executive Officer Mark McCallum. “This alliance formalizes our long-standing, informal relationship and ensures our organizations have an integrated strategy for driving growth while mitigating risk across the interconnected construction market. NASBP values its relationship with ASA and looks forward to realizing the potential of this strategic alliance for the mutual benefit of our respective members.”
With the alliance in place, NASBP and ASA will coordinate advocacy campaigns and initiatives, share industry research and analysis, provide educational programs and resources, and otherwise collaborate to expand subcontractor access to bonding.