S278 Agreement Bond

Conditions for the person to pay all or part of the cost of the work that can be fixed or fixed in accordance with the agreement. In many of our work, you will often find reflection point 278 (or S278). The document is prepared by the lawyer of the local highway authority and issued to the developer`s lawyer in the form of design. The details of the agreement will then be agreed before the final document is finalized and signed by both parties before the start of field work. When the proponent gives the agreement to provide work instead of simply contributing to other work, they are, to the satisfaction of the Council, responsible for the organization of the work. The procedure required to reach an agreement can take time and time, and it is therefore desirable to get in touch as soon as possible with the authority of the motorways. If the proponent is doing the work, it may be necessary for a loan to cover the motorway authority against the possibility that the developer may not properly complete the work, for example. B if they become insolvent. The loan will be phased out until the end of a 12-month maintenance period at the end of the work. A Section 278 (or S278) agreement is a section of Highway 1980 that allows developers to enter into a legal agreement with the Council (as a Highway Authority) to make permanent modifications or improvements to a public highway as part of a plan. If the proposed infrastructure requires routine maintenance, the agreement procedure provides for the guarantee of a re-pending amount for the financing of the work. These loans, also known as Section 38 of the road, Section 104 sewers and section 278 intersection, ensure that the local authority or the water company ensures that a road, footpath, public lighting or sewers are provided according to a standard they can accept.

What is a Section 38 agreement? Section 38 Agreements are “highway bonds,” as requested by local authorities. Including Irish Scottish equivalents. Section 38 is established between the proponent and the board or the relevant authority to ensure the completion and adoption of a new road development system. The agreement is voluntary and between a developer and the Council. The proponent undertakes to bind the loan or to put cash security on the value of the road works and covers this roadway until the end of the deadline for obtaining defects and issuing the final certificate by the Council at the time of adoption. Bond`s risk ends there. The value is generally sufficient to ensure that the Council can build/repair the road if the developer does not. When a developer is required to carry out highway work in connection with its development, its development permit requires that it enter into a motorway agreement to carry out the work.