What are Restoration Bonds?
Restoration Bonds (also known as reinstatement guarantees) is typically sought for major construction contracts, which may have a detrimental effect on the environment, and a form of performance bond is required to ensure that the landscape is restored following completion on the project. Also used for land fill waste operations, and quarrying, and may be a pre-requisite of planning permission.
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An Advanced Payment Bond is a guarantee, supplied by the party receiving an advanced payment, to the party advancing the payment.
Road & Sewer Bonds are required by a Local Authority or Water Authority, they cover the Council or Water Authority if they need to construct/repair the Road or Sewer.
A Construction Performance Bond is a guarantee, typically with a value of 10% of the contract price and is designed to offer protection to the beneficiary.
A Retention Bond will provide the employer with the same level of comfort as the retention, but the contractor / has the benefit of retaining the cash.