The Cabinet Office’s Centre for Social Impact Bonds has developed two new tools to assist the development of the bonds: the 'Knowledge Box' online portal and a template service agreement contract.

Social Impact Bond Knowledge Box provides information for developing and commissioning social impact bonds (SIBs). These range from identifying suitable service areas to how to measure outcomes and calculate savings.

It also includes case studies of current SIBs and features links to other sources of information and guidance both in the UK and overseas. Users can also register to post their own comments and discuss the issue.

The Cabinet Office says the Knowledge Box has three main aims: to help validate SIBs as a real, viable option for commissioners; to help to cut down the transaction costs associated with developing SIBs; and to fulfil rapidly increasing demand for information on SIBs.

The Centre for SIBs is also offering the free use of a template SIB service agreement contract for potential bond developers.

The guidance outlines and illustrates issues for commissioning and contracting SIBs, as well as payment-by-results contracts.