Key Documents You’ll Need for Your Road and Sewer Bond Application
When applying for a Road or Sewer Bond, it’s important to provide the correct documentation to ensure your application is processed smoothly and efficiently. However, it’s not always clear which documents are important for your application.
You’ll learn exactly what to prepare to ensure your application is complete and processed as quickly as possible. We’ll also cover any additional supporting paperwork that can strengthen your submission.
What Are the Steps of Applying for A Road or Sewer Bond?
When applying for a Road or Sewer Bond, there are set processes to secure the bond. Below are the key steps involved:
- Receive Bond Wording from the Council
- Contact a Surety Company
- Submit Your Application
- Review and Accept Terms
- Bond Issuance
When you are applying for a Road or Sewer Bond, you should provide a completed application form, a copy of the bond wording or agreement and your most recent audited financial accounts.
What Documents Do You Need for Your Application?
To apply for a Road or Sewer Bond, the documents you need to support your application are:
- Completed & Signed Application Form
- Most Recent Audited Financial Accounts
- Latest Management Accounts (if available)
- Copy of Draft Agreement (if available)
Having these documents available when you submit your application will also help speed up the whole process and ensure you get your Bond in good time to start the project.
What Happens If You Don’t Have Road & Sewer Surety Bonds?
Upon failing to get the necessary road and sewer bonds for developments, businesses and developers can be putting themself at risk. This is because there are many different repercussions and roadblocks that projects can face if they do not have the correct bonds.
Legal Ramifications – One of the most apparent repercussions of not having the correct road and sewer bonds is the legal ramifications that you could be exposed to. The absence of road and sewer surety bonds can significantly increase the risk of legal complications such as fines and suspensions.
Delays or cancellations of projects – Another very costly repercussion of not having the correct bonds is the possibility of delayed or cancelled projects. You will often find that without these bonds, you will struggle to get the necessary approval. This can then cause major roadblocks and setbacks. Delayed projects can have huge financial implications on developments, and cancelled projects can have even more catastrophic consequences.
Compromise public health – The absence of road and sewer bonds can significantly compromise public health in many ways. If a development project fails to meet the standards and requirements for roads and sewers, then this could cause considerable dangers for the public. Poorly maintained roads can cause many health risks, and inadequate sewer systems can increase the spread of diseases.
Why Choose RS Bonds for Road and Sewer Bonds?
Best Price Guarantee
We operate a Best Price Guarantee Policy, helping our clients achieve the best possible terms.
Zero Cash Collateral Policy
Secure your Road and Sewer Bonds without upfront cash deposits.
Knowledge & Dedication
We combine an inherent technical and legal knowledge with a dedication to this specialist sector of the surety market to always achieve the best value for our clients.
Reputation
Our services are retained by a diverse client base, including top 10 UK PLC Housebuilders, SME Housebuilders, Housing Associations, and the UK’s leading New Home Warranty and Insurance Provider.
Trusted Relationships
Our unique position in the Road and Sewer Bonds market has allowed us to negotiate exclusive agreements and develop key relationships with both international and boutique underwriters, as well as Local Authorities and Water Companies.
50 Years Experience
Our team has over 50 years’ experience in Highway Bonds, Sewer Bonds, Insurance, Civil Engineering and Housebuilding, which combined, enables us to remain the market leaders in the Road & Sewer surety market.
RS Bonds are the only company in the UK that specialise solely and exclusively in the procurement of Road and Sewer Bonds, on behalf of Housebuilders.
