Last week, the U.S. Department of Transportation (USDOT) and The Surety & Fidelity Association of America (SFAA) launched the USDOT’s first District of Columbia Bonding Education Program (BEP). The program, based on SFAA’s Model Contractor Development Program (MCDP), is a hands-on, multi-component program designed to address the needs of small disadvantaged businesses so they may become bond-ready, increase capacity, and ultimately compete for and participate on transportation-related contracts. Joanne Brooks, SFAA’s vice president and counsel, kicked off the program with a Bonding and Insurance class.
Fifteen emerging contractors enrolled in the DC BEP, and they each will receive individualized technical assistance and training and also will meet with surety professionals. The ultimate goal of the program is the increase the number of emerging contractors who are bondable.
The timing of the program is perfect given the opportunities for contractors to work on upcoming federal transportation projects in the DC Metro area — the $1.7 billion Dulles Metro Rail, $900 million South Capitol Corridor, or $1.2 billion Purple Line.
