Federal activity overview — SBA-1623: Surety Bond Guarantee Agreement of Indemnity
Federal form · U.S. Small Business Administration
An indemnity agreement between the SBA and a surety company under the SBA Surety Bond Guarantee Program. The SBA guarantees a portion of the bond, making it easier for small contractors to obtain performance and payment bonds required for federal construction contracts.
Small construction contractors use the SBA Bond Guarantee Program when they cannot obtain conventional bonding. SBA-1623 formalizes the SBA's guarantee to the surety company.
Reference record · Sources: U.S. Small Business Administration · Covers what it is, when it is used
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is federal form SBA-1623 (Surety Bond Guarantee Agreement of Indemnity). An indemnity agreement between the SBA and a surety company under the SBA Surety Bond Guarantee Program. The SBA guarantees a portion of the bond, making it easier for small contractors to obtain performance and payment bonds required for federal construction contracts.
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Ask about SBA-1623Small construction contractors use the SBA Bond Guarantee Program when they cannot obtain conventional bonding. SBA-1623 formalizes the SBA's guarantee to the surety company.
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