Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Surety definition

What does Surety mean? In practice, a surety is a person or company that promises a creditor it will be responsible for another party’s (the principal debtor’s) obligations, whether existing, future or contingent, if they are not performed. There is no single statutory definition; the concept is established by case law and used across finance, leasing and construction. Liability may arise under a guarantee (secondary and co‑extensive with the principal’s liability) or under an indemnity (a primary, independent obligation). Surety liability is often joint and several with the principal debtor. Guarantees generally must be evidenced in writing signed by the surety (for example under the...

Surety Performance Bond securing Section 38/278 Highways Act 1980 Works for Local Highway Authority (England and Wales)

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Precedents

DATE

[ insert date ]

Parties

[ insert name ] of [ insert address ] [ incorporated in England and Wales, company registration number [ insert number ] ] (the ‘Surety’)
[ insert name ] of [ insert address ] (the ‘Council’)

Definitions

1980 Act • means the Highways Act 1980
Bond • this bond agreement for the Bond Sum
Bond Sum • the amount of [ insert bond sum specified in the Highway Agreement or as agreed with the Council ]
Default Notice • a written notice issued by the Council to the Surety under clause 5.2 of this Bond confirming that the Developer has not carried out and/or completed the Works in accordance with the Highway Agreement, and setting out the sum which, in the [ Proper officer’s ] opinion, is needed to carry out and complete the Works in accordance with the Highways Agreement and/or to remedy any defect or default of the Developer in undertaking and finishing those Works
Developer • [ insert name of Developer ]
Highway Agreement • the agreement made between the Developer [ , [ insert any...

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Web page updated on 22/05/2026

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