Road bonds surety that’s with you at every turn
Thanks to CRL's experience, obtaining your Road & Sewer, Completion and other bond products couldn't be easier
Typically, a local authority agrees to maintain a road (at public expense) once construction work has been completed. As such, a developer has an obligation to provide the local authority with insurance against the work – so a road bond is required before any new development can receive planning permission.
A road bond is a guarantee. If the developer’s work is not done to a certain standard and timescale the local authority can use the bond money to complete the road properly.
How are the road bonds valued?
Road bonds usually come as cash, cheque or bank security. A bond’s monetary value is usually based on the local authority’s view of the project’s costs and timeframe.
At CRL, we have the experience and the know-how to guide you through this process – and we will help you obtain a road bonds warranty with minimal hassle.