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Possible Increase In SBA Bond Amounts Continues

by Surety Admin 18. October 2010 14:58

Small Business Administration’s (SBA) Office of Surety Guarantees. On September 17, the SBA Office of Surety Guarantees issued an SBA Information Notice to all its employees notifying them that the revisions implemented under the American Recovery and Reinvestment Act (ARRA) are set to expire on September 30, 2010. At that time, the temporary contract ceilings of $5 million and $10 million will expire and the maximum eligible contract bond guarantee amount will return to $2 million. Furthermore, the revision allowing the Administrator discretion to determine the Program’s liabilities will also expire on September 30, 2010. 

Finally, the SBA is in the process of finalizing a rule that increases, subject to the availability of specific appropriations, the contract size it will guarantee size to $5 and $10 million with respect to major disasters.

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Surety Blog Categories:  Contract Bonds

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