Deveopment Security bonds

Development security bonds in NSW all serve as financial guarantees that ensure developers fully meet their obligations when undertaking building, civil or subdivision works. Damage security bonds protect Council assets by funding repairs to public infrastructure if these are damaged during construction. Defects liability and maintenance bonds provide security for the performance of newly constructed public assets after they are handed over to council.

Bond application and refund process

It is the responsibility of the applicant to advise Council when construction works are completed, and bond is due for refund.

Damage Security Bonds

Damage security bonds for engineering/civil works are financial guarantees required by Councils to ensure that any damage to public infrastructure from construction activities is adequately restored. These bonds protect Council assets and hold developers and contractors accountable for repairs.

Subdivision related bonds

Subdivision related bonds are a vital tool for Councils to manage and mitigate the risks associated with engineering/civil works, ensuring that public infrastructure is completed to the highest standards and safeguarding the interests of the community.