Business · 22/07/2009

SBA Implements Surety Bond Guaranty Program Rules Under American Recovery and Reinvestment Act

The U.S. Small Business Administration has issued an interim final rule implementing provisions of the American Recovery and Reinvestment Act of 2009, including size standards for the Surety Bond Guaranty Program, which authorizes the SBA to guarantee bonds on contracts up to $5 million or $10 million, and partially denies liability for material facts disclosed in guarantee applications.