Deposit Bonds also known as “Off the Plan BondsTM” have been specially designed to assist Project Marketers and Developers to sell ‘Off the Plan’ projects. The key benefit of such bonds is the high degree of financial comfort given to the developer as the potential buyer’s bona fides and financial status are verified to demonstrate their ability to complete the purchase. This is in contrast to the standard cash deposit or bank guarantee gives no reflection on the buyer’s ability to complete the settlement.
Covering Residential and Commercial Real Estate including vacant land, as well as up to 60 months settlement period, Deposit Bonds are underwritten by Underwriting Australia Pty Limited of which SPRIG Insurance is a Corporate Authorised Representative. and provides our clients with a high degree of financial comfort.
- Issued for Residential, Commercial Real Estate including vacant land
- Can be issued up to a maximum of 10% of the Purchase price
- Ability to include Deposit Bond as part of the Purchase price
- Tax Deductible 1
- Up to 60 months settlement period
- Seamless sign-up and claims process
- Competitive premiums
1 First year if purchased as an investment property