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
All our forms
- Corporate Questionnaire – Facility Application
- Specific Bond Application
PLEASE NOTE: the application form uses validation in Adobe PDF, your browser needs to download the pdf, not show it in Chrome PDF Viewer for it to work properly. - Statement of Position
