International Surety Association (ISA)
The International Surety Association (ISA) was founded by The Surety & Fidelity Association of America (SFAA, formerly The Surety Association of America), the International Credit Insurance & Surety Association (ICISA, formerly the International Credit Insurance Association) and The Surety Association of Canada to promote the use of surety bonds worldwide. Other members are the Australian Surety Association (ASA) and Surety Association of Mexico (SAM). The Association aims to intensify the co-operation between its members and to enhance efficiency in their respective businesses. It promotes the use of the International Chamber of Commerce's "Uniform Rules for Contract Bonds"
ISA was set up to promote surety bonds and in particular the uniform rules for contract bonds and to increase efficiency in advocacy initiatives:
by dividing the world into regions for which each ISA member association is responsible it allows every member to focus in its region, by attending meetings and conferences, on behalf of other members, eliminating expenses and benefiting from local knowledge and experience.
by combining forces ISA is a more relevant partner when talking to regulators and other influential making ISA a truly global surety representative body for advocacy purposes.
On its foundation ISA’s goals were to promote:
the adoption of the International Chamber of Commerce's "Uniform Rules For Contract Bonds", internationally,
as well as to work for a level playing field for surety bond underwriters by combating unfair treatment of the insurance industry.
ISA aims to provide added value through co-ordination, polling of experience and know-how, and cost saving. Its structure allows it to act immediately when needed.
The Statutes contemplate that ISA's constituent members retain their individuality and sovereignty. When it comes to matters of agreed joint action in the international and regional arena, ISA spearheads the effort. This ensures that vital work with organizations such as the World Bank, the Inter-American Development Bank, the European Commission, UNCITRAL etc., are handled by ISA. This lends the desired credibility and impact to the exercises in question.