Secure a Section 106 Bond Agreement from CG Bonds, a specialist with unparalleled technical knowledge in the procurement of Bonds.
Section 106 Bond Agreements Costs
The primary cost associated with Section 106 Bond Agreements fluctuates depending on the financial contributions or obligations that the developer or landowner must fulfil. This can include funding for affordable housing, infrastructure improvements, environmental mitigation, or community amenities. The magnitude of these contributions varies based on the project’s size, impact, and local requirements.
CG Bonds leverages its deep-rooted technical knowledge and expertise on bond idiosyncrasies to ensure our clients receive the most competitive terms available in the market. Additionally, our broad and exclusive underwriting panel empowers CG Bonds to provide a Best Price Guarantee policy, assuring our clients receive the most favourable terms.
At CG Bonds Surety, our unparalleled technical knowledge within the procurement of Section 106 Bond Agreements sets us apart. We possess a profound understanding of the unique intricacies of an array of bonds, including Section 106 Bond Agreements, allowing us to provide informative customer service by simplifying the complexities associated with them.
How CG Bonds Surety Can Help You With Section 106 Bond Agreements
At CG Bonds Surety, we have unrivalled specialist acumen on various bond types stemming from our technical and construction background, placing us in a unique position to offer technical knowledge on Section 106 Bond Agreements. In addition to this, our 100% track record in fulfilling bond requirements assures our clients that they will receive favourable terms, even within the current risk-averse surety market.
A dedicated account manager will assist you through the entire application process, ensuring a smooth and hassle-free experience. If you require immediate price indications for tender applications, we can provide them promptly to expedite the process.
How CG Bonds Surety Can Help You With Section 106 Bond Agreements
At CG Bonds Surety, we have unrivalled specialist acumen on various bond types stemming from our technical and construction background, placing us in a unique position to offer technical knowledge on Section 106 Bond Agreements. In addition to this, our 100% track record in fulfilling bond requirements assures our clients that they will receive favourable terms, even within the current risk-averse surety market.
A dedicated account manager will assist you through the entire application process, ensuring a smooth and hassle-free experience. If you require immediate price indications for tender applications, we can provide them promptly to expedite the process.
How Long Does A Section 106 Bond Agreement Last?
The duration of a Section 106 Bond Agreement can vary and is typically determined during negotiations between the developer and the local planning authority. The agreement’s length depends on the specific terms and obligations outlined within it, which are tailored to the needs of the development and the local area.
In many cases, Section 106 Bond Agreements cover obligations that must be fulfilled during the construction and development phase, as well as responsibilities that extend into the post-development phase. This can range from several years to decades, depending on the complexity and scope of the development and the long-term impact it may have on the local area.
Benefits of Choosing CG Bonds for Section 106 Bond Agreements
- Best Price Guarantee – Already got a quote? We will beat it and offer you a lower price.
- 100% Track Record – We secure bonds for all our clients, regardless of their financial strength or size.
- Low Admin Fees – Only pay our £195 admin fee if you’re satisfied with our service.
- Fast Turnaround – Most quotes are sourced within 5-7 days of completing the application form.
- Bond Finance Options – We can help you cover the bond, even if you don’t have capital right away.
- Exceptional Service – From start to finish, our experts will walk you through the process.
How To Secure A Section 106 Bond Agreement
To obtain a Section 106 Bond Agreement from CG Bonds Surety, our dedicated client account management team is here to support you every step of the way. To kick-start the application process, we will ask for the essential information outlined here:
Completed and Signed Application Form
Most Recent Audited Financial Accounts
Additional Project Details and Specifications (if available)
Latest Management Accounts (if available)
Copy of Bond Wording (if available)
FAQs
A Section 106 Bond Agreement is a legally binding agreement between a developer and a local planning authority in the UK that is used to address the potential negative effects of a proposed development by requiring developers to contribute towards infrastructure, affordable housing, community facilities, and public spaces.
Section 106 Bond Agreements address the impact of proposed developments on the local community and infrastructure.
The process begins with negotiations between the developer and the planning authority, defining obligations like affordable housing or infrastructure improvements. Once agreed upon, a legal document is drafted, specifying the terms, conditions, and a timeline for fulfilment. Planning permission is granted upon agreement, and the developer is responsible for implementing the obligations. After completion and review, the Section 106 Bond Agreement is considered fulfilled, ensuring that new developments contribute positively to the local area.
Developers and landowners qualify for a Section 106 Bond Agreement as local planning authorities often require them, given the potential impact of their proposed developments on the local community and infrastructure. These agreements are used to mitigate the effects of development, and local planning authorities commonly make them a prerequisite for granting planning permission.
One prevalent obligation in Section 106 Bond Agreements is the inclusion of affordable housing within a development, addressing local housing needs. These agreements may also require developers to contribute to infrastructure enhancements like roads, public transport, schools, and healthcare facilities. Additionally, some developments may be mandated to provide community amenities or public spaces.
The duration of a Section 106 Bond Agreement can vary and is typically determined during negotiations between the developer and the local planning authority. The agreement’s length depends on the specific terms and obligations outlined within it, which are tailored to the needs of the development and the local area.
