The New Hampshire Procurement Technical Assistance Program (NH-PTAP), a program of the New Hampshire Division of Economic Development, is offering an informative seminar, “Construction Bonding for Federal Contracts,” for contractors, builders and tradesmen who are or want to become government contractors on February 16th from 9 a.m.-noon at the New Hampshire Division of Economic Development offices at 172 Pembroke Road. Pre-registration for the event is required as seating is limited.
According to NH-PTAP Program Manager Dave Pease, “The Miller Act of 1935 requires performance and payment bonds prior to any award made for federal construction projects over $150,000. Businesses that have never been through the bonding process can find this process daunting. That’s why we’re pleased to have Bill VerPlanck of The Rowley Agency and Rachael Roderick of the Small Business Administration (SBA) present this training. They’ll take attendees through what contractors, subcontractors, builders and tradesmen need to do in order to be in compliance with the FAR (Federal Acquisition Regulations) Part 28, which outlines detailed requirements regarding bonds and insurance.”
The Miller Act was put in place to protect the interests of the federal government, taxpayers, suppliers and subcontractors. Bonding ensures that the construction contractors are qualified to perform their contractual obligation to the federal government, that taxpayer dollars are protected through third-party guarantees of contract performance and payment, and that suppliers and subcontractors have a payment remedy should the prime contractor become insolvent or fails to pay them.
VerPlanck, who will lead the training, will explain the differences between various bonds, why they exist and who uses them and how to get bonded; while Roderick will explain the SBA Express and Contract Line of Credit programs that can assist small businesses.
Bill VerPlanck joined The Rowley Agency in 1985 after serving seven years as the Hartford Insurance Company regional bond manager for northern New England. A graduate of Cornell University, he earned his Chartered Property Casualty Underwriter (CPCU®) designation in 1992 from the American Institute for Chartered Property & Casualty Underwriters. He is an active member of a number of industry associations including the National Association of Surety Bond Producers, New England Surety Association, Associated General Contractors of NH (past board member), NH Good Roads and Associated Builders & Contractors.
Rachael Roderick has worked for the SBA for 23 years. As a Business Development Specialist, her responsibilities include administering the SBA’s 8(a) Business Development Program and marketing and outreach of the SBA’s programs including government contracting programs, loan programs, and business development assistance through resource partners.
All registrants for the free training must be NH-PTAP clients. For more information about this event and the free services that NH-PTAP provides or to sign-up as a NH-PTAP client, visit http//:nhptap.ecenterdirect.com.
For questions, contact Amanda Duquette at 603-271-7581 or email firstname.lastname@example.org. Please note that the conference room does not have wireless Internet connection for personal laptops.