What are road and sewer bonds?
Road and sewer bonds are a guarantee that when a developer is installing infrastructure like roads, sewers, mains water, and more, that they will be installed to recognised standards.
Should a developer fail to achieve installation to those recognised standards, the bond assures the local authority that the work will still be completed using funds from the party that issued the bond in this case, LABC Warranty.
Once the works are completed to a satisfactory standard, maintenance of the works is transferred to the local authority.
How do you benefit?
Many councils will require a developer to secure a road and sewer bond before developing new brownfield or green-belt land for housing use.
As of now, with LABC Warranty’s road and sewer bond service, developers using LABC for building control can apply to have their structural warranty and road and sewer bonds supplied through the one provider.
No more shopping around, no more sourcing two providers – LABC Warranty are the one-stop bond and warranty shop.
What do they cost?
The price of a bond will vary based on the details of the project in question, and the financial situation of your company.
While we can’t publish rates up-front, we can assure you that our road and sewer bond rates are competitive with other major providers on the market.
How do I get one?
The best approach to getting a road and sewer bond is to talk to your LABC Warranty account manager, if you have one.
They can guide you through assembling the documentation that LABC Warranty will request before approving a bond.
Once approved, your rating will be ‘locked in’ for a year, letting you come back for more road and sewer bonds without any reassessments of your financial or credit position.
If you don’t already have an account manager, please get in touch on this page here and we’ll get the conversation started.
Alternatively, if you’re confident you have the required material to hand, you’re welcome to use the application form on this page and our team will process your application.
If you’re unsure about anything, or have any questions about whether road and sewer bonds are right for your business, contact us.
Or, if you’d like to know more about the road and sewer bonds we offer, read more on our dedicated page here.