Defining the Bond
Restoration Bonds are constructed for the benefit of Local Authorities, Commercial entities and Land Owners, the sole purpose of which are to guarantee these beneficiaries that land under their control will be restored back after a contractor has completed a job to an agreed upon standard (this will be specific and transparent for all parties involved).
Commonly used for land fill waste operations, and quarrying, and may be a pre-requisite of planning permission.
This form of bond is a variation of what is known as a Performance Bond. Entities or works that typically require a bond of this type are, mainly major construction contractors where their operations will adversely effect the landscape.
Specific entities that commonly seek these bonds also include;
- Land Fills
- Mining operations
- Waste & Refuse Operators
What we need to get started
- Completed Bond Proposal Form
- Last two years consolidated audited accounts
- Up-to-date management accounts
- Copy of Bond Wording