I had a word with a mate in the building trade and he told me that a performance bond would normally be bought from an insurance company for a small fraction of its value.
Rather in the way that if you are a responsible car driver with a good track record you insure your car for a fraction of its value and the value of the damage you could potentially do with it.
He thought that SFP hadn’t been able to buy a bond, either because of the size of the project and their lack of track record or their non-compliance with the EA recommendations.
He said specialist insurance firms that issue these to developers and his firm has never had any difficulty getting a bond and that is pretty much mandatory for most fairly large contracts.
The idea of the performance bond is to protect everyone involved if the developer goes bust or does a runner or builds a building that is not fit for purpose.
As for depositing £1,000,000 it is a ludicrously small amount when one considers the council have already spent £882,753 on the cliff repairs.
As far as I can see it is exactly the same as someone wanting to borrow your car worth £5,600 and saying to you. “I can’t get insurance, but as you have just paid the £883 garage bill so I can use it, instead of insuring it I will lend you £1,000 which you can keep if I don’t bring your car back, oh and you may have to pay any further garage bills that come up.
I didn’t have to take a driving test and have a letter strongly advising me to from the department of transport, but because I got a licence before a test was mandatory they can’t make me, oh and I can’t prove I have ever driven anything before.
Of course if I crash it and people are killed or injured as I have told you all this you could have a few problems with the law, if I write off the car I may pay you something more for it, but you can’t check my assets or get at them under British law as they are all tied up in an offshore company, so I don’t have to pay tax on the money I intend to make out of using your car.”
I believe the Cabinets intention to keep what they intended to discuss a secret begs some interesting questions.
Click on the link to read the EA recommendations. http://www.michaelsbookshop.com/ea/
Incidentally the granite wall on the right in the picture above that is considerably higher than the base line of the new development has been demolished by wave action on numerous occasions. It’s quite spectacular when this happens lumps of granite weighing several tons are swept into the air as if they were pretty much non-existent.
Click on the picture to enlarge it.
This link takes you to a page with pictures of the damage to the harbour wall and of wave overtopping along Marina Esplanade where the development is to be built. You have to scroll down the page a fair bit for the pictures.
The pictures are not of a tidal surge storm as the van and motorcycle would have been swept away as happened to the 12 ton crane down there in 1953.
The video is an ordinary spring tide with a moderate northerly blowing it away, things get much worse with a south easterly or southerly especially when combined with a tidal surge, caused by a low pressure system over us making the sea rise.
As you can see it is only the sand that stops the pavilion and everything else down there from being washed away in normal conditions, unfortunately the sand sometimes gets washed away too.
I have also noticed that Isabelle has left a comment on Bertie’s blog to the effect that Bonanza Express won’t be coming to Ramsgate click on the link to read it http://thanetstrife.blogspot.com/2009/03/roll-on-bonanza-express.html?showComment=1241437260000 I am pointing this out as unless you use http://thanetblogs.blogspot.com/ short of regularly reading through his entire blog I don’t see any way you would pick this up.