These bonds make a guarantee to the local water board, local authority or statutory agency that any work affecting roads and / or sewers will be completed to a standard which complies with regulations and which can be adopted into an existing system. Insurance policies are now available as alternatives to bonds in certain circumstances and subject to the agreement of the beneficiary.
Work will be carried out by you as the contractor, meeting or exceeding an agreed standard and will then pass to the local authority for maintenance. The bond guarantees the installation and will be called upon to pay a financial penalty, if there is a need for repairs within the agreed maintenance period.
Do you need a Section 38 or Section 104 road or sewer bond to work on your contract? Call The Channel Partnership today on 01275 817320 to discuss your surety bond needs.