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NASBP 2019 Virtual Seminar Package
The Annual Subscription is the most economical and convenient way  to participate in the 2019 NASBP Virtual Seminars.
Captive Insurance & Bonding: A Deeper Dive
In this session, speaker and innovator in the captive insurance industry Brandon White​, will look deep into the Captive Universe. We will explore the uses of captive insurance vehicles and how organizations are using them for bonding purposes. We will also discuss the impact of captives that are outside of the bonding program and how best to work alongside and what counsel to give your clients around the benefits and drawbacks of the captive structure in their business.
Surety in Oil & Gas – Managing Risk in a Changing World
The oil and gas marketplace continues to evolve with a host of variables driving its transformation. During this Virtual Seminar, you will gain a better understanding of the various surety solutions that can be utilized by companies operating in this space. A flyover of the oil and gas commodity markets will serve as a backdrop to a closer look at each of the industry sectors and prominent areas of oil and gas activity in and around the United States. Additionally, details will be provided on the most common types of bonds for this industry as well as regulatory forces in play that could impact current and/or future bond requirements giving you the information you need to better anticipate and respond to your oil and gas customer’s needs.
Mechanics’ Lien Discharge Bonds - The Substitutes of the Surety World
Mechanics’ lien discharge bonds are the substitutes of the surety world. They substitute for a previously filed mechanics’ lien, providing relief to owners and contractors alike from the onerous procedures, rules, and remedies that such liens carry with them. They may also provide added time to negotiate a settlement by substituting their own statutes of limitations. While mechanics’ lien discharge bonds are not without their risks, they offer a satisfying alternative in that owners and other stakeholders can insulate their property interests from foreclosure, while contractors have a simpler alternative to recovery than foreclosure. During this virtual seminar, we will take a look a mechanics’ liens and mechanics’ lien discharge bonds. Our speaker Mike Pipkin a partner at the Dallas office of the law firm of Weinstein Radcliff Pipkin LLP, will review real-world examples and examine the risks, rewards, and alternatives to mechanics’ lien discharge bonds.
P3s: Strategies for Risk Evaluation and Mitigation for Subcontractors and Their Bond Producers and Sureties
Public Private Partnership projects are becoming more common in the USA, particularly for large and mega projects. P3s present subcontractors with new opportunities; and they also present significant new risks. This presentation will explore P3 projects from the perspective of the construction subcontractor and the subcontractor's bond producer and surety. The presentation will address some of the unique aspects of P3s as well as strategies to effectively identify and mitigate risk, such as the risk of inadequate payment protection.
The Evolving Role of the Construction CFO And How It Can Impact Surety Credit Capacity
The ever-changing construction industry is creating an environment where the construction CFO is challenged to take on increasing responsibilities. Gone are the days when the CFO was a trusted family member who was good with numbers and could be trusted. Today’s construction CFO must face the new challenges in financial reporting and increasingly is forced to the front lines of Technology, Compliance, Human Resources and other critical issues. In this session, we will discuss with you the impression vs. the reality of what is expected and needed from this critical management position. As surety professionals and business advisers to your construction partners its important to have a strong understanding of how this critical position within their organization, which can impact surety credit capacity, has changed.
ASC 606, Revenue from Contracts with Customers: Impact on the Contractors’ Financial Statements
Learn what surety professionals and their contractor clients need to know about the FASB revised revenue recognition standard by looking at the new guidance given in the ASC 606. During this seminar presenters will examine the impact on financial statements and footnotes, outline presentation and disclosure requirements, and give a five-step process to revenue recognition in light of the ASC 606. The discussion will be further illuminated through examples illustrating what these changes will look like.
Special Circumstances in Surety Bonding: Death, Disability, Divorce, Departure, and More
For more than a decade, presenter Michael Zisa has represented sureties and contractors in all aspects of their businesses. In this time, he has encountered a number of unique bonding issues and circumstances – some are legal and some are practical, but all are important for bond producers and underwriters to be aware of and understand. Life events and family and business issues often intrude on and complicate the contract bonding process. During this 60-minute NASBP Virtual Seminar, Mr. Zisa will discuss and provide insight from his experiences regarding the following: termination of indemnity obligations, friends and family indemnitors, death of the principal’s owner, death of an indemnitor, legal actions against a principal, joint ventures and the false claims act.
How the New Lease Accounting Guidance Will Affect Contractor’s Financial Statements
After working on this this project for 8 years, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 in February 2016 in response to criticism of the existing guidance for not providing financial statement users enough information about an entity’s leasing activities. The most significant change resulting from the ASU is that lessees will be required to put nearly all leases on the balance sheet by recognizing a right-of-use asset and a lease liability. The initial panic response that followed issuance of the ASU over 3 years ago has subsided, and most folks have since forgotten about the new standard entirely. Implementation is finally upon us though. Public business entities are required to adopt the lease standard for annual reporting periods beginning after December 15, 2018, with all other entities adopting the following year. This seminar will provide a high-level overview of how financial statements will be affected by the new guidance, including the effect on various performance metrics.