Surety Bonds – Assessment Criteria

  • Well developed business with solid track record
  • At least 3 years of continuous profitability
  • Operating for at least 5 years
  • Minimum turnover of $20m p.a.
  • Minimum net tangible asset position of $3m
  • Positive net operating cash flow
  • Positive working capital position
  • Demonstrated capital retention within the business
  • Evidence of professional financial and operational management
  • Main contracting entity is not in a trust structure
  • Technical ability to deliver on all contractual requirements

NB. Applicants who have ATO payment arrangements or are engaged in speculative property developments will not be considered.

Do I qualify & how to apply?

Initial Assessment Requirements

  • Completed Corporate Questionnaire – Facility Application.
  • Group capability statement
  • Confirmation of what your guarantee requirements are
  • Structure chart showing all entities and shareholdings with brief description of each entity
  • 3 years of consolidated financial statements
  • Most recent management accounts
  • Summary of all banking / finance facilities including limit, current balance, expiry date, details of security pledged etc.
  • Order book report for current and upcoming projects including project name, brief description, client, contract value, commencement / completion date, and billing remaining.

What’s the typical process?

  • Initial assessment performed by Assetinsure
  • Indicative Expression of Interest outlining Assetinsure’s key terms including facility limit and pricing.
  • Completion of full underwriting process
  • Binding term sheet
  • Legal documentation
  • Facility activation and bonds issued

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