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Section 220 Bond Vs Cash Deposit For Road Completion
When a developer wishes to construct a private road under private street works, or prior to entering a s38 adoptable road a Local Authority (Council) may serve a section 219 (s219) enforcement �notice requesting a payment under Advance Payment Code (APC) or Bond under section 220 (s220) of the Highways Act for Private Street Works, the Bond can be entered in lieu of payment of the cash to the Local Authority, this is usually to the full value of the road. This payment or Bond is required if the developer defaults, liquidates, fails to complete the road to the standard required by the local authority, then the local authority must complete the road for the benefit of the residents.
When a developer wishes to construct a private road under private street works, or prior to entering a s38 adoptable road a Local Authority (Council) may serve a section 219 (s219) enforcement �notice requesting a payment under Advance Payment Code (APC) or Bond under section 220 (s220) of the Highways Act for Private Street Works, the Bond can be entered in lieu of payment of the cash to the Local Authority, this is usually to the full value of the road. This payment or Bond is required if the developer defaults, liquidates, fails to complete the road to the standard required by the local authority, then the local authority must complete the road for the benefit of the residents.
For more information on Section 220 Bond Vs Cash Deposit For Road Completion talk to Nationwide Sureties
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