For every builder and developer, there is nothing like knowing that your build is safe. When you’re involved in a contract, you want to know that all terms of agreement are met and that everything will get done on time. Road bonds help to clear the air as well as acknowledge what went wrong if not everything is completed according to contract.

What Are Road Bonds?

A road bond is your source of protection in the case that there are loopholes in the obligations that were agreed upon between you and your client.

More specifically it is a guarantee that that a property developer or house builder will complete the sewer and/or road work to a specific standard and it will be done within a certain timeframe. It is important that you get one of these bonds, especially during federal construction, which requires you to get a surety bond contract if the value of the work is over or at $150,000.

Why Do You Need Surety Bonds?

In most situations, surety bonds are required. You need them because they guarantee that the work will be done, and more importantly in due time. This provides a frame that you can work with, and it gives you peace of mind that everything will get done, just as you had agreed.

What Happens if the Road Bond is Broken?

If the contractor (principal) that is working for you doesn’t abide by the guidelines, you can make a claim. After you make a claim the surety will investigate the situation, and if your claim is valid and the principal did not do the work set by the guidelines, he or she will then have to pay the claim in the amount mentioned in the surety bond, along with all additional legal fees.

From our loyal customers

CRL Management have provided me with the cover I needed to satisfy the bank during my build project. But that’s not the end of the story. Where they really stood out was their efficient and proactive customer service. Steve Loveridge was always very quick to respond to my queries. I even emailed him after normal working hours with an urgent query from the bank and he worked late into the evening to make sure I had the answer when I needed it. I’m very happy that I chose CRL Management Ltd.

Clock Mill House