Commercial Lease Bond Requirements

COMMERICAL LEASE BONDS ASSESSMENT GUIDELINES

  • The company applying (the applicant) must have been trading for at least 3 full financial years.
  • If new entity, or part of a group, directors must go as personal guarantors and must have trading company in similar or related industry trading for at least 3 years.
  • The applicant must demonstrate profitability and positive cash flows and asset position.
  • Guaranteed amount applied for must not exceed a figure of 12 month’s rent.

GENERAL DOCUMENT REQUIREMENTS

  • Clear 100 point ID (at least one photo ID) for authorised signatory to the company and any guaranteeing directors.
  • Fully completed, signed & witnessed application (to be posted in after sent through electronically).
  • Copy of Lease Contract (preferably in electronic format) plus any amendments.
  • Copy of certificate of incorporation.
  • Last 3 year’s company financial reports (including profit/loss & assets/liabilities).

SERVICE GUARANTEE
Generally in all cases bonds will be issued within 2 business days from the receipt of all necessary documentation.
Should you encounter an urgent requisition from a customer, please advise us immediately, and we can issue the bond within 12 hours.

GENERAL GUIDELINES
Approval can be given on faxed copies; bond will not be issued until payment of premium has been received. Original signed and witnessed applications will be required to be received and verified by our office before Aussie Bonds will release the original bond.
We have general limits in regards to maximum bond amount, which is $500,000.00.
Minimum bond premium is $2,500.00. Maximum bond term is 60 months.
Bonds can be returned within one calendar month from the date of issue for a refund of the premium minus a $950.00 administration fee. There is no refund for bonds after this time.
Bonds can be re-issued if:

  • there is a minor change required,
  • it has been lost; or
  • if it was not correctly issued.

There is a standard $100.00 re-issue fee. The reissue fee does not apply if the bond was issued incorrectly from this office. Any other re-issue requests please consult with our office.