NASBP-logoStay up to date on all things surety-related with the NASBP SmartBrief, news targeted for surety professionals. Click here to read the complete SmartBrief presented by NASBP. Here are some of the top news headlines:

 

Hockey league application requires $100,000 performance bond or LOC

The president of a Massachusetts ice hockey franchise said he told the Federal Hockey League he is willing to obtain a $100,000 performance bond in order to join the league, but balked at one team owner’s suggestion of a $100,000 irrevocable letter of credit. Owners of the five-team league are continuing to weigh the amount of risk they will accept by admitting the team, the league’s commissioner said. Read more from The Berkshire Eagle (Pittsfield, Mass.)

Feds nix cap on monetary awards to women-owned firms via SBA program

Federal agencies will no longer be limited in the dollar value of awards they can make to women-owned small businesses through the Small Business Administration’s business-development program. The cap has risen since the program’s 2011 launch, but a final rule ending the limitation was published this week in the Federal Register. Read more from American City Business Journals/Washington, D.C./Tales From Main Street blog

Analysis: Idaho law specifies requirements for retainage provisions

The amount of retainage that may be withheld by owners and general contractors of public or private construction projects can be as much as 5% of each application for payment in Idaho, although that percentage varies among states. Lawyers suggest that contractors working outside their home state should have legal help in complying with unfamiliar retainage laws. Read more from Idaho Business Review

Concerns over bat, endangered mussel could delay Midwest expressway

The proposed Illiana Tollway is raising concerns by the U.S. Fish and Wildlife Service regarding the potential impact on the northern long-eared bat, a threatened species, and the sheepnose mussel, which is endangered. The executive director of the Northwestern Indiana Regional Planning Commission said it’s unclear whether such concerns will influence federal approval for the project. Read more from Post-Tribune (Merrillville, Ind.)

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