Aussie Bonds TM is a form of guarantee that can be accepted by Vendors in lieu of cash when a Purchaser must pay a deposit to secure their contractual commitment to purchase properties.
Aussie Bonds TM is underwritten by Underwriting Australia Pty Limited of which SPRIG Insurance is a Corporate Authorised Representative. It provides a guarantee of payment to the Value of the Deposit Bond up to a maximum of 10% deposit in the event that the Purchaser does not settle on their Contract of Sale and is backed by QBE Insurance (Australia) Limited (‘QBE’).
- Assets & working capital remain untouched
- No asset sales required to access deposit funds
- Competitive premiums
- Can be issued in a few hours*
- Peace of mind that exposure is limited to premium if the sale does not complete
- Seamless sign-up and claims process
- Nil Establishment costs to Vendor
- Cost Effective way of securing commitment to purchase
- Deposit Deposit bonds can be issued up to a maximum of 10% of the Purchase price
- Provide peace of mind that Deposits will be paid even if Purchaser does not complete the Contract of Sale
- Available to all clients including Self Managed Super Funds and Trusts
- Underwritten by QBE with an S&P rating of A+
*subject to a fully completed application