PERFORMANCE BOND
(BANK GUARANTEE)
To secure contracts and provide certainty to project owners
Features & Benefits
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Amount: Minimum $10,000 | Maximum restricted to single transaction limit by CBS
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Term: depending on contract term
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To include registered mortgages over landed assets, directors personal guarantees and Mortgage Debentures where deemed appropriate
Interest Rates
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Variable
Fees
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LAF 2%
Opening Requirements
Supporting Documentation Checklist
Please provide the following information depending on your circumstances
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For existing businesses
- we will require the last 3 years of accountant-prepared financial statements
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For new or start-up
- we will require a copy of your business plan, your cashflow business: forecast, and detailed assumptions of planned capital expenditure (CAPEX) over the following 12 months
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Rental Income
- a copy of the lease agreement
- a copy of the bank statement (12 months) showing receipt of rental payment
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All applicants
- last 12-month bank statements of any account being refinanced/repaid from the current request
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For incorporated entities
- a copy of the Business License
- a copy of Memorandum of Assoiciation
- a copy of Certificate of Incorporation
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For property purchases
- a copy of the signed and dated Purchase and Sale Agreement
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For loans secured by real estate
- full property description (lot/plan No's etc)
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For loans secured by guarantees
- signed application form from the guarantor(s)
Important Documents
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Performance Bond Terms & Conditions
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Business Banking Terms & Conditions