US Department of Transportation (DOT) Bonding Education Program (BEP)
The Bonding Education Program (BEP) process includes:
- Members of the transportation-related services industry and small business resource providers meet to review the parameters of the BEP implementation in the local market, determine resource requirements, and ascertain the role in which each stakeholder will play in carrying out the educational component and ensuring program’s success.
Educational Workshops Component
- This component offers a set of comprehensive workshops to include a minimum of 10 hours of instruction:
- Business and federal transportation project specific workshops; in cooperation with Primes, SBA, MBDA, and other Supportive Services
- A variety of topics are covered by industry experts such as, Contracting Law, Accounting, Operations Safety Plan, Proposal Writing, etc.
- Including a closing workshop focused on networking and next steps
The Bond Readiness Component
- This component offers one-on-one interactions with local surety bond producers who volunteer to help small businesses. The surety bond professionals will work with the small businesses, on a case-by-case basis, to assemble the materials necessary for a complete bond application, and address any omissions or deficiencies that might impede the successful underwriting of a bond. To deliver this component, the Small Business Transportation Resource Centers (SBTRC) use the network of SBA-approved surety associations to identify surety professionals in each local area, who volunteer to assist the small businesses to become bondable or increase their bonding capacity.
Follow-up and Assistance
- This component offers coordination and monitoring of technical assistance provided to participants in the program. The SBTRC will help the small business identify and secure bonding for subsequent transportation-related projects. An element of the follow-up assistance may include the match making of program participants to transportation-related contracting opportunities available.
- Banking relationships
- Bonding programs
- Cash flow/financial statements
- Construction accounting
- Contract law
- Financing resources
- Insurance for contractors
- Managing growth
- Understand overhead costs
Bonding Program Eligibility
To be considered for the program, applicants must be the primary owner(s), key manager(s) or administrator(s) of a business that meet the following criteria:
|Disadvantaged Business Enterprise (DBE)
|Woman-owned Business (WBE)
|8(m) Women-owned Business
|Minority-owned Business (MBE)
|Small Business Enterprise (SBE)
|Historically Underutilized Business (HUB)