The U.S. Small Business Administration says it now has a paperless filing system that allows surety-bond issuers to use the Internet for filing claims and supporting documents electronically.
SBA said the new system, available to all surety companies by Wednesday, eliminates the need for costly, overnight shipments of documents by surety companies, as well as paper handling, filing and storage costs for both the companies and SBA.
“This enhancement is a collaborative effort between the surety industry and SBA resulting in improved efficiency, reduction in cost to sureties and creating an error-free environment,” said Peter Gibbs, deputy director for the SBA’s Office of Surety Guarantees.
For more information, visit http://www.sba.gov/surety-bonds.
