SBA Form 990 Surety Bond Guarantee

OMB Control No: 3245-0007
Expiration Date: xx/xx/xxx

U.S. SMALL BUSINESS ADMINISTRATION
SURETY BOND GUARANTEE AGREEMENT
1. Surety Name:

Terms and Conditions of Agreement on Page 2
2. Business Name & Business Trade Name:

3. Co-Surety Name + Percentage:

4. Principal’s Address: Street, City, State, Zip and County

5. Principal’s Name:
6. Contract – Description of nature and extent (volume) of work:
7. Bid
Bid Date:
Project Location:
Negotiated
Anticipated Project Start Date:
Bid Time:
Anticipated Project Completion Date:
If contractor has started work, an SBA Form 991 must be submitted to SBA before the Guarantee Agreement can be executed.
8. Obligee Name:
Address (Street, City, State, Zip, County):
BLOCKS 9-10 TO BE COMPLETED FOR BID BOND GUARANTEES.
9. Estimated Contract Amount:
10. Bid Bond Percentage or Amount:
BLOCKS 11-21 TO BE COMPLETED FOR CONTRACTS AWARDED AND FINAL BOND GUARANTEES.
11. Date of Contract Award:
12. Contract Amount:
13. Maintenance Bond /Agreement
Amount:
Years:
Ancillary Bond Yes No
Type:
14. Payment Bond Number:
15. Payment Bond Amount:
16. Bid Spread
Low $:
2nd Low $:
17. Performance Bond Number:
18. Performance Bond Amount:
19. Contractor Fee Amount:

20. Premium and Rate Charged by Surety:

21. Surety Fee Amount:

BLOCKS 22-28 TO BE COMPLETED FOR CONTRACT/BOND AMOUNT CHANGES AND SHOULD SPECIFY THE INCREASE/DECREASE
CONTRACT, PREMIUM AND FEE AMOUNTS.
22.  Increase
23a. Original Contract 23b. Revised Contract Amount:
24. Payment Bond Amount: 25. Performance Bond
 Decrease
Amount:
Amount:
26. Contractor Fee Amount:
27. Premium and Rate Charged by Surety:
28. Surety Fee Amount:
In my opinion the Principal appears to have the financial management and technical abilities to successfully complete this contract.
However, I have determined that the Principal falls below the normal underwriting standard of this Surety, who will not issue this bond
without the SBA guarantee. By signing below, I certify that I have been authorized by the Surety identified in Box 1 to obligate Surety to
the terms and conditions stated on page 2 of this agreement and that all information provided in connection with the Surety’s
application for a surety bond guarantee from SBA, including any supporting documents submitted with this agreement, including but not
limited to SBA Form 994B, is true, correct and complete to the best of my knowledge. I understand that knowingly making a false
statement or submitting false information is a violation of Federal law and could result in criminal prosecution or civil penalties under 18
U.S.C. § § 287, 371, 1001, 15 U.S.C. § 645, or 31 U.S.C. § 3729.
29. Signature of Surety’s Attorney-in-Fact:
Printed Name:
Agency Name:
30. Date:
By its authorized signature, SBA agrees to guarantee the bond described herein as of the time of issuance, subject to 15 U.S.C. § 694a
and b, SBA regulations in 13 CFR Part 115, applicable SBA Standard Operating Procedures, and the terms and conditions stated on page 2
of this Agreement. In providing this guarantee, SBA relies on the declarations above and on the forms submitted and signed by the
Surety as applicable. This guarantee shall become effective upon the Surety’s execution (as defined in such regulations) of the SBAguaranteed bond. SBA guarantees ____ % of the loss in consideration of ____% of the surety’s own premium base.
31. SBA Signature:
Disposition:

32. Title:

 Approved  Returned  Withdrawn  Declined

SBA FORM 990 (03/19) Previous Editions are Obsolete

33. Date:
34. SBG Number:

Page 1 of 2

SUBMISSION INSTRUCTIONS: This form is to be completed by Prior Approval Sureties. This form may be completed
electronically in the Capital Access Financial System (CAFS) located at https://www.sba.gov/partners/surety-bond-partnersagents/operate-surety-partner-or-agent. If the form is prepared electronically, the completed form must be downloaded,
printed and signed and then uploaded into CAFS. If CAFS is unavailable, a paper copy of the form is available on the Office
of Surety Guarantees (OSG) website at https://www.sba.gov/partners/surety-bond-partners-agents/operate-surety-partner-oragent where it may be printed, completed, signed and mailed to the OSG office at 409 3rd Street, S.W. Suite 8600 Washington,
D.C. 20416. SBA reviews the application, makes a final determination, notifies the Surety or agent of its decision and returns
the signed agreement to the Surety. SBA’s approval of the guarantee is contingent upon, if applicable, the remittance to SBA
of the guarantee fee owed by the contractor.
Terms and Conditions:
If the Surety determines that the Contract price is reasonable, and the Contract amount does not exceed the statutory
ceiling specified in 13 CFR Part 115, Surety shall, subject to the execution of this guarantee agreement by SBA, become
Surety on the bid, performance and payment bond(s) required for the award of the Contract. Surety may withdraw its
decision to issue such bond(s) if prescribed underwriting conditions are not met or if additional information comes to the
attention of Surety that adversely affects its underwriting determination, in which case, the Surety shall give notice of its
decision to SBA.

1.

The Surety represents that the terms and conditions of such bond(s) are, and will be, in accord with SBA regulations
(13 CFR Part 115) and with those standards established and generally accepted by the surety industry for the type of
contract for which such bond(s) are required to be furnished by Principal, and Surety represents that such bonds would
not be provided for Principal on this Contract without this SBA guarantee.
2.

If any suit or claim is filed against Surety upon said bond(s), Surety must inform SBA of the same within 30 days of
receipt of notice. Unless SBA decides otherwise, and so notifies Surety, Surety shall take charge of all suits or claims
arising under said bond(s) and compromise, settle, or defend such suit or claim until so notified. Surety shall take all
steps necessary to mitigate any loss resulting from Principal’s default. Surety shall not join SBA as a party in any lawsuit
to which Surety is a party unless SBA has denied liability or has agreed to such joinder in writing.

3.

No employee of SBA has authority to waive, change or alter the terms of this Agreement, unless such alterations
are separately attached, and both the SBA and Surety’s authorized representatives have signed and dated their assent.

4.

This Agreement is made exclusively for the benefit of SBA and the Surety and does not confer any rights or benefits
on any other party, such as any right of action against SBA by any person claiming under SBA-guaranteed bonds or
otherwise. In the event of the Surety’s insolvency, SBA shall not be liable to the receiver or other representative of the
surety except for any loss incurred and monies actually paid by such representative under the bonds guaranteed by SBA.

5.

The Surety agrees to comply with all relevant SBA regulations and SBA Standard Operating Procedures. If any
provision of this Agreement is inconsistent or conflicts with any SBA regulation, such regulation shall prevail in
construing or applying this Agreement.
6.

PLEASE NOTE: The estimated burden for completing this form is approximately 10 minutes per response. You are not
required to respond to any collection of information unless it displays a currently valid OMB Control number (3245-0007).
Comments on the burden should be sent to U.S. Small Business Administration, Director, Records Management Division, 409
3rd St., S.W., Washington, D.C. 20416 and/or Desk Officer for the Small Business Administration, Office of Management and
Budget, New Executive Office Building, Room 10202 Washington, D.C. 20503. PLEASE DO NOT SEND COMPLETED
FORMS TO OMB.
SBA FORM 990 (03/19) Previous Editions are Obsolete

Page 2 of 2