Here is a list of SAC achievements and milestones:
The first decade
- Creates Tender Alert Program intended to “inform members of difficult and unfair contract terms” and to “engage the owner to explain the issues and urge “surety-friendly” changes.”
- Successfully challenged the Ministry of Finance to amend its Excise Tax Act to correct an error that required the payment of “GST twice in the event of a contractor default.”
- Established the “intensive, university-level designation” Associateship of Canadian Surety Bonding (ACBS) program focused on training members.
- Worked with Public Works Canada and Defence Construction Canada “to establish a formal protocol for claims on federal performance and payment bonds.”
The next decade
- SAC launches a new strategic plan to allow brokers and other businesses focused on surety to participate as full members and expanded regional committees and the board of directors “to ensure a broader representation of the various sectors of the industry and empower membership groups that had been marginalized under the old structure.”
- Enacted a new fee assessment structure aimed at providing “sufficient revenue to meet the enhanced expectations of member firms” which then allowed the association to restructure and redefine its priorities.
- In 2004 SAC partnered with local construction groups B.C. to persuade senior ministers to retain surety bonds as the security of choice after “the B.C. government Risk Management Branch announced that the province would be moving to a self-insurance program to manage the risk of contractor performance.”
- In 2006, SAC was instrumental in Ontario in “bringing about surety-friendly reforms to the Limitations Act which ensure that the suit limitation language in standard performance bonds remains enforceable.”
- In 2011 and 2012 SAC’s Quebec Regional Committee engaged senior government officials and were successful in ensuring that new laws intended to “combat corruption in the province’s non-residential construction industry” would not “adversely affect (the) industry by creating a rash of unwarranted claims.”
The next five years
- Rebranding including a new logo and tagline to “more accurately reflect its mandate and core objectives.”
- Celebrates 25th anniversary in 2017 with a focus on developing a new strategic plan focused on continued growth and industry involvement.
- In 2018, SAC intends to roll out a newly developed, two-tier ACSB structure that will include a fellowship program, recognizing the need for more surety specific courses as an investment in the future of the industry.
Source: SAC website