Road and Sewer Bonds

Many of the warranty companies have removed the “free” bonds the industry has enjoyed for many years, there is only one provider offering it to their large corporate clients but often attracts ongoing fees.

At Consult 44 we have partnered up with one of the largest providers of bonds and can now offer some of the best rates in the market.

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Types of bonds

  • Performance Bond - a type of bond in which the surety provider agrees to pay employee damages in the event of contractual non performance.

  • Construction Guarantee Bond - these bonds are essentially performance bonds which are geared towards the construction sector and specific forms of construction contracts.

  • Retention Bond - a type of bond in which an employer agrees to pay the contractor monies which would otherwise have been held by way of retention.

  • Advance Payment Bond – a bond which guarantees to an employer their upfront payment to a contractor for goods or services.

  • Off-Site Materials Bond – similar to an ‘Advance Payment Bond’ in so far as this bond guarantees the payments made for goods that are held by a contractor off site before they are required for a project.

  • Bid/Tender Bond – a bond which is often submitted with a tender to demonstrate to the employer the ability of the party tendering to commence the contract if it is awarded to them.

  • NHBC Bond – a specific style of bond which is issued to the NHBC instead of the need for a cash deposit.

  • Highway Act/Road Bond – a bond which guarantees to a local authority that a road, footpath or street lighting will be provided to a standard which they can adopt.

  • Sewer Bond – a bond which guarantees to a local water company that drainage and or sewer systems will be provided to a standard that they can then adopt.

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Expert support with bonds

Some warranty providers advertise that they offer free road and sewer bonds, this is true but is also dependent on various caveats such as financial stability and the amount of the bond in question.

We can help you with this and by choosing Consult44 you can avoid:

  • Overrun charges and auditing management

And get support with:

  • Closing bonds down or getting them reduced with the Local Authority

Service FAQs

  • It's an agreement the council needs to make sure the developer fulfils their obligations to make sure the roads are in good order.

  • The council will agree an amount they feel is needed to complete the scheme, this will then be in place until they do a final check to make sure they are 100% happy. If not they have the power to call in the bond to pay for the work to be completed.

  • There are many different bonds available, but the main ones are for the roads and sewers to make sure they are finished to a satisfactory standard.

  • An ‘Advance Payments Code’ bond is a bit like a bank guarantee and is normally put in place before an amount is agreed for the roads by the local council. However, they are challenging to get due to the general tightening of the bond market.

Get in touch today

Call us on 0113 733 1399 or use the form below to make an enquiry about our road and sewer bonds services, and we’ll get back to you as soon as we can.