This SOP is a reference for all SBA personnel involved in surety bond guarantee activities. It explains the policies and procedures for the acceptance, control, and processing of applications for surety bond guarantees in the Prior Approval Program. Additionally, it clarifies the role of field personnel in default, claim, and settlement situations related to those guarantees. Participating sureties, including their agents, are required by regulation to follow the underwriting standards set forth in Chapter 7. They should also be familiar with the balance of this SOP.
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