The Surety Bond Guarantee Program

This SOP explains for SBA personnel and participants the policies and procedures for the acceptance, control, and processing of Prior Approval surety bond guaranty applications.

Use this SOP to understand general requirements for participation in SBA's Surety Bond Guarantee (SBG) program and specific policies and procedures for participation in the Prior Approval part of the SBG program. The following is a list of topics covered in this document.

1. General Overview of the Surety Bond Guarantee Program
2. SBA’s Surety Bond Guarantee Agreement
3. Surety Eligibility and Participation Requirements
4. Co-Surety and Reinsurance
5. Contractor Eligibility Requirements
6. Contract and Bond Eligibility
7. Application Process for the Prior Approval Program
8. Underwriting Considerations
9. Surety Oversight and Accountability
10. Office of Inspector General (OIG) Referrals For the Preferred Surety program, please see SOP 50 49. For claims and recovery information, please see SOP 50 46.