| Created on October 17, 2014 |
Will Save Substantial Time and Money to Government and Industry
Surety bond companies associated with the U.S. Small Business Administration will now be able to file their claims and supporting documents electronically thanks to a significantly enhanced, web-based processing system launched by the SBA.
The new system, announced by SBA’s Office of Surety Guarantees, eliminates the need for costly, overnight shipments by surety companies, as well as paper handling, filing and storage costs for both the companies and SBA.
“This enhancement is a collaborative effort between the surety industry and SBA resulting in improved efficiency, reduction in cost to Sureties and creating an error free environment,” said Peter Gibbs, Deputy Director for the Office of Surety Guarantees.
