ROAD AND SEWER BONDS

WHAT ARE ROAD AND SEWER BONDS?

A road or sewer bond is a form of surety provided on behalf of a property developer or contractor to a local authority under the relevant Highways Act, or water company under the Water Industry Acts, to ensure the roads and sewers can be completed to adoptable standard. The value of the bond required will decrease as the project progresses.

WHY USE PREMIER GUARANTEE?

We can assist with the arrangement of road and sewer bonds subject to terms and conditions which includes an assessment of the developer or builder’s experience. 

Apply

Road and Sewer Bond

Road And Sewer Bonds Application Form

Rules

Road and Sewer Bond

Road and Sewer Bond Rules

How to apply

To apply for a road and sewer bond through Premier Guarantee, please supply the following:

 

  • Completed application form, including your Premier Guarantee site registration number
  • Bond wording/agreement
  • Site plan
  • First application only: Latest annual full accounts of the applicant company and any group/parent/holding companies (abbreviated accounts will be insufficient); and
  • First application only: The latest monthly or quarterly management figures (including Profit & Loss and Balance Sheet information) of the applicant company, or consolidated management accounts where the applicant is part of a group

 

Please submit all documents to bonds@premierguarantee.co.uk

What are the conditions of the application?
  • You must be a Premier Guarantee Registered Developer with a premium rating of 1* - 6. Premier Guarantee Registered Developers with a lower rating may be eligible in some circumstances – please get in touch
  • You must have a valid Premier Guarantee application relating to the development site and all homes must be registered with Premier Guarantee
  • The bond required must involve an element of residential development
  • The works noted in the Bond Agreement should be completed within a maximum of 5 years from application
  • The surety noted within the Bond Agreement is commercial insurance specialist Tokio Marine HCC

 

Bonds available from Premier Guarantee

 

Road

  • Section 38, Highways Act 1980 (Adoption of a New Highway)
  • Section 278, Highways Act 1980 (Alteration to a Public Highway)
  • Section 220, Highways Act 1980 (Advanced Payment Code)
  • Section 21, Roads (Scotland) Act 1984 (Adoption of a New Highway)

Sewers

  • Section 98, Water Industry Act 1991 (Sewer Requisition)
  • Section 104, Water Industry Act 1991 (Sewer Adoption)
  • Section 185, Water Industry Act 1991 (Public Sewer Diversion)
  • Article 161, Water and Sewerage Services Act (Northern Ireland) 2016 (Sewer Adoption)