Legally, a surety company is not required to step in until the bonded party has defaulted on the bond. However, surety companies do appreciate being informed early of problems or signs of trouble on behalf of a bonded party. Therefore, if you are having difficulty or are noticing early signs of trouble with the bonded party, please feel free to contact the surety company directly at the phone number listed in the Treasury Department Circular 570 List of Certified Companies.
If you are having difficulty with a surety company which has bonded a defaulted contractor, you may contact the Surety Bond Branch at 202-874-6850.
To request decertification of a surety company, you must file a written report in accordance with 31 C.F.R. 223.18. Please submit a detailed chronology of events with copies of supporting documentation to:
U.S. Department of the Treasury - Bureau of the Fiscal Service
Surety Bond Branch
6505 Belchrest Road, Room 345
Hyattsville, MD 20782
On receipt of such report from the Federal agency, the Secretary of Treasury will, if the circumstances warrant, notify the company concerned that the agency report may demonstrate that the company is not keeping and performing its contracts. It may also show that, in the absence of satisfactory explanation, the company's default may preclude the renewal of the company's Certificate of Authority, or warrant prompt revocation of the existing Certificate. This notice provides opportunity to the company to demonstrate its qualification for a continuance of the Certificate of Authority.
Last modified 10/29/18