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Small & Emerging Contractors


What's New: Public-Private Partnerships (P3s)

SFAA President Lynn Schubert Speaks to P3 Task Force in FL

Tuesday, April 8, 2014  
The following article appeared in the Florida Surety Association’s Newsletter. To read the full newsletter, please click here.

Lynn Schubert, President of The Surety & Fidelity Association of America spoke to the P3 Task Force on Friday, February 28. The purpose of the task force is to develop guidelines for the use of P3 projects in local government. The task force was established in HB 85 which passed last year. The bill provided a template for local governments to follow when considering P3 projects. HB 85 requires that the bonding of public construction projects be followed in P3 projects. Ms. Schubert briefed the task force on surety experience in Florida on P3s as well as surety experience in other states. One of the topics that came up during the presentation was the bonding education program developed by SFAA for US DOT’s major project in the Orlando area. The task force asked for more information on the program and invited FSA and SFAA to make any suggestions on surety for the task force’s final report which is due in July. Statutory language in HB 85 requires P3s to utilize the protection of payment and performance bonds. The purpose of the presentation by SFAA was to elevate the issue of surety in P3s.

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