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Hendy Van and Truck builds partnership with construction charity

Pictured left to right Tony Steel, operations director of Band of Builders and Gavin Crane, CEO of Band of Builders

Hendy Van and Truck has pledged its support for a national charity which helps construction workers and tradespeople.

For the next 12 months, the Band of Builders charity will have use of two vans to help in its work to deliver life enhancing projects to those dealing with life’s most challenging circumstances.

The charity was set up in 2016 and since then has provided practical, financial and wellbeing support for members of the UK construction industry and these vans will be used across the country transporting tools and materials to a wide range of projects.

Hendy head of business Performance David Graham said the Ford Transit Custom and Vauxhall Vivaro will be sign written to further raise the profile of Band of Builders.

“Many of our customers are in the construction industry. From those operating large fleets to local small businesses, this charity is a perfect fit for us,” said David.

“The charity does an incredible job in supporting those in need and we wanted to get involved in supporting something which resonates with a key area of the business.”

Band of Builders (BoB) CEO Gavin Crane said: “We are forming a great charity partnership with Hendy Van and Truck and its generosity in providing us with the use of two new BoB liveried vans will make a massive difference in enabling us to take BoB on the road.

“As a charity, we visit construction sites, attend trade shows, and deliver projects right across the UK – so the vans will be essential in helping us transport materials to where they are needed.

“We would like to thank the Hendy Van and Truck for supporting BoB so that we can continue completing practical projects to help members of the UK construction industry and their families who are battling illness or injury.”

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Performance Bonds

Performance bonds are a type of financial instrument that serves as a guarantee to ensure that a contractor will fulfill their obligations under a contract. These bonds are typically required for construction projects, where the contractor is responsible for completing the project within a specific timeframe and to a certain level of quality. If the contractor fails to perform their duties as agreed, the performance bond provides financial protection to the project owner.

Nationwide Sureties is a company that specializes in providing performance bonds to contractors. The company works with contractors of all sizes, from small businesses to large corporations, to ensure that they have the necessary financial security to complete their projects.

One of the main advantages of working with Nationwide Sureties is the company’s extensive experience in the field of performance bonds. The company has been providing these bonds for over 20 years and has a deep understanding of the unique needs of contractors in various industries. This experience allows Nationwide Sureties to provide tailored solutions to meet the specific needs of each contractor, ensuring that they have the financial protection they need to succeed.

Another advantage of working with Nationwide Sureties is the company’s commitment to customer service. The company understands that contractors are often working under tight deadlines and need to have their bonding needs met quickly and efficiently. Nationwide Sureties has a dedicated team of professionals who are available to answer questions and provide guidance throughout the bonding process.

Nationwide Sureties also offers a wide range of bond types to meet the needs of contractors in different industries. Some of the most common bond types include bid bonds, payment bonds, and maintenance bonds. Bid bonds are required by project owners to ensure that contractors have the financial capacity to complete a project. Payment bonds provide financial protection to subcontractors and suppliers, ensuring that they are paid for their work on a project. Maintenance bonds provide a guarantee that the contractor will correct any defects or issues with their work for a specified period after completion of the project.

In conclusion, performance bonds are a crucial component of many construction projects, providing financial protection to project owners and contractors alike. Working with a trusted provider like Nationwide Sureties can help ensure that contractors have the financial security they need to complete their projects successfully. With their extensive experience, commitment to customer service, and range of bond types, Nationwide Sureties is an excellent choice for contractors in need of performance bonds.

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Why choose us

Nationwide Sureties UK is a leading provider of surety bonds and guarantees, offering a range of services to businesses and individuals across various industries. Here are some reasons why you should choose Nationwide Sureties UK:

Expertise and experience: Nationwide Sureties UK has over 20 years of experience in providing surety bonds and guarantees. With a team of experienced professionals, they have the expertise to understand your specific needs and provide tailored solutions that meet your requirements.
Tailored solutions: Nationwide Sureties UK understands that every business or individual has unique requirements when it comes to surety bonds and guarantees. They offer a range of customized solutions to meet the specific needs of each client, ensuring that they have the right level of protection and security.
Competitive rates: Nationwide Sureties UK provides surety bonds and guarantees at competitive rates, ensuring that their services are accessible and affordable to businesses and individuals of all sizes.
Flexibility: Nationwide Sureties UK offers a range of surety bonds and guarantees, including performance bonds, payment bonds, advance payment bonds, and retention bonds. They can provide flexible solutions that meet the specific needs of each project or business.
Customer service: Nationwide Sureties UK places a high value on customer service, providing a dedicated team to support their clients throughout the process. They offer prompt and efficient service, ensuring that their clients have the support they need when they need it.
Compliance with regulations: Nationwide Sureties UK ensures that all their surety bonds and guarantees comply with legal and regulatory requirements. They provide peace of mind to their clients, ensuring that they are protected and fully compliant with regulations.

In summary, Nationwide Sureties UK is a leading provider of surety bonds and guarantees, offering tailored solutions, competitive rates, flexibility, excellent customer service, compliance with regulations, and a team of experienced professionals. Whether you are a contractor, supplier, or business owner, Nationwide Sureties UK can provide the surety bond or guarantee you need to protect your interests and ensure a successful project. Choosing Nationwide Sureties UK means that you are choosing a reliable and trusted partner for your surety bond and guarantee needs.

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Construction Bonds: What Are They and Why Do You Need Them?

Introduction: Construction projects can be risky ventures, with various factors such as weather, supply chain disruptions, and unforeseen events that can disrupt their completion. That’s why construction bonds are essential tools for managing risk and ensuring that projects are completed as planned. In this article, we’ll take a deep dive into construction bonds, their different types, and why they are crucial for project owners, contractors, and suppliers.

What are Construction Bonds?

Construction bonds are contractual agreements that ensure that parties involved in construction projects fulfil their obligations. They work to protect the interests of the project owner, contractor, and suppliers by providing financial security in case one of the parties fails to fulfil their contractual obligations.

Types of Construction Bonds: There are several types of construction bonds that are used in different stages of a construction project. These include:

Bid Bonds: These are required before a contractor is awarded a contract and serve as a guarantee that the contractor will enter into a contract and provide a performance bond.
Performance Bonds: These guarantee that the contractor will complete the project as per the terms of the contract.
Payment Bonds: These ensure that subcontractors, suppliers, and laborers are paid for their services and materials.
Maintenance Bonds: These guarantee that the contractor will rectify any defects in the project after its completion.

How do Construction Bonds Work?

Construction bonds work by transferring the risk of non-performance or non-payment from the project owner to the surety bond company. The surety bond company guarantees to pay a predetermined amount if the contractor fails to fulfil their obligations. In case of a claim, the surety bond company will investigate the claim and determine whether it is valid. If the claim is valid, the surety bond company will pay the claim, and the contractor will be required to reimburse the surety bond company.

Why are Construction Bonds Important?

Construction bonds are essential for construction projects because they provide financial security and peace of mind to project owners, contractors, and suppliers. They offer protection against non-performance, non-payment, and other risks that may arise during a construction project. Additionally, construction bonds help to ensure that contractors are qualified, experienced, and financially stable to handle the project.

FAQs:

Q: Who pays for construction bonds? A: Typically, the contractor is responsible for paying for construction bonds. However, the cost of the bond may be factored into the bid price.

Q: How much do construction bonds cost? A: The cost of construction bonds varies depending on the size and scope of the project, the contractor’s creditworthiness, and the type of bond required.

Q: Are construction bonds required for all construction projects? A: No, construction bonds are not required for all construction projects. However, they are mandatory for most public construction projects.

Conclusion:

Construction bonds are crucial tools for managing risk in construction projects. They provide financial security and peace of mind to project owners, contractors, and suppliers by ensuring that parties fulfill their contractual obligations. By understanding the different types of construction bonds and how they work, you can make informed decisions when it comes to managing risk in your construction projects.

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John Lewis £500m funding deal to build 1,000 rental homes

John Lewis Partnership has sealed a £500m joint venture deal with investor abrdn to fund and build 1,000 rental homes at three sites.

The sites include building over redeveloped Waitrose stores in Bromley and West Ealing in Greater London, as well as replacing a vacant John Lewis warehouse in Mill Lane, Reading.

John Lewis has committed to deliver 10,000 homes in the next 10 years – 5,000 of these will come from schemes on the Partnership’s own property portfolio.

It said it has already identified around 20 sites that it will extend or redevelop with build to rent schemes, and then become the landlord once housing is built.

John Lewis said the build-to-rent residential property market in the UK is forecast to double in size, with 30,000 new homes completed annually by 2026, according to research by the property firm Savills.

In London alone there is a shortfall of 75,000 rental properties.

Nina Bhatia, executive director for Strategy and Commercial Development at the John Lewis Partnership, said: “We continue to work with the local authorities and communities to evolve our plans and expect to announce more details for West Ealing and Bromley in due course, before aiming to submit our first planning applications next year.

“A first public consultation for the site in Reading is expected in 2023. Residents can expect homes furnished by John Lewis with first-rate service and facilities.”

Neil Slater, Head of Real Assets, abrdn, said: “The critical lack of quality rental accommodation in the UK needs to be addressed, so we are delighted to partner with the John Lewis Partnership to provide the required institutional investment.

“The ambitions and responsible ethos of our brands both strongly align, and our partnership should offer investors long-term returns and give residents confidence in a top-quality living experience.”

Source: Construction Enquirer

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