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Project

Planned Community - Rolling Bond Register

Project Management and Superintendent services for the delivery and release of bonded works.

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Project details

Orion was engaged to manage the delivery and release of bonds on a client’s Estate Bond Register. The bonds were accumulated over an eight-year period to facilitate the early release of Subdivision Certificates. This exercise assisted our client in releasing a significant portion of their amassed bonds and instilled confidence with Council in their commitment to deliver on bond agreements.

Overview of engagement

The project is a 300ha master-planned community. During negotiations for releasing Subdivision Certificates on prior stages, our client had amassed a considerable number of bonds on the estate Bond Register. These bonds had allowed for the accelerated release of Subdivision Certificates and bonding of non-critical infrastructure works. Over the years, this had accumulated and exhausted a significant portion of the Bond Register’s capacity, potentially hindering future bonding efforts. Following the delivery of Stage 3C and with authority approvals delaying the next stages of construction, Orion identified this as an opportunity to begin delivering on the bonded works.

Specifics of engagement

Orion’s role varied depending on the specific requirements of each bond. Initially, Orion provided Project Management services to define the scope of works and release requirements with Council. This naturally progressed to include Superintendency services during the delivery and contract administration phase.

With a significant portion of the bonds negotiated prior to Orion’s involvement and both our client and Council’s representatives from this time having moved on, the biggest challenges were in confirming the scope of the bonded works.

What was done

Orion worked collaboratively with the Council and where required, reached out to previously engaged consultants to verify the scope of each bond. Once confirmed, variations were administered under existing contracts to facilitate the delivery of the bonded works. Council defect walkovers were arranged upon completion, and the bonds were progressively released off the register.

Value to the client

Through Orion’s engagement, our client released over two million dollars worth of long-standing bonds which has freed up capacity for future bonding requirements. With the overall project forecasting a strong pipeline of lot releases over the next 24 months, this exercise is a critical yet often overlooked aspect of developments. The increased bond capacity ensures that our client has available funds for future stages and, perhaps more importantly, instils confidence in local Council regarding our clients commitment to fulfilling its bond agreements.

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Services

Project Management & Superintendency

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