Due to maintenance of the Assuro platform, we are temporarily unable to accept applications for new bank guarantees. Please contact us for more information at info@assuro.com.au.

Bank guarantees made easy.

Apply online and save with the BNK Bank Guarantee.

No Ongoing Fees
$399 Establishment Fee
Variable Interest Rate Earned on the Deposit*

* Variable rate is subject to change throughout the life of the bank guarantee which means the amount of interest earned is also subject to change.

A better way to get your bank guarantees.

Apply online via our purpose-built platform and experience the difference.

Fast

Complete your application with Assuro online within minutes.

Bank guarantees finalised and dispatched by the bank within days.

Fast

Complete your application with Assuro online within minutes.

Bank guarantees finalised and dispatched by the bank within days.

Fast

Complete your application with Assuro online within minutes.

Bank guarantees finalised and dispatched by the bank within days.

Fast

Complete your application with Assuro online within minutes.

Bank guarantees finalised and dispatched by the bank within days.

A better way to get your bank guarantees.

Apply online via our purpose-built platform and experience the difference.

Fast

Submit your application online with Assuro in minutes.

Bank guarantees finalised and dispatched by the bank within days.

Transparent

Real-time collaboration and status alerts visible to all parties.
Invite people in your company to review and approve a live draft.

Value

Highly competitive fees compared with the retail banks.

Get in touch for more information on pricing.

Simple

Bank guarantees automatically integrate with Assuro Cloud.
Our relationship managers can assist you every step of the way.

What is a Bank Guarantee?

A bank guarantee is a form of ‘security’ that enables you to grow your business by giving your customers and suppliers confidence that you can fulfil your obligations. 
Bank guarantees are used in a wide range of circumstances but are commonly used to secure commercial leases and construction contracts.

How it works.

From application to return, we've got you covered.

1. Register & Apply

Create an Assuro account and follow the prompts to start your bank guarantee application.

Provide the details for the bank guarantee, including parties, value and purpose.

2. Payment & Verification

Complete payment of the establishment fees and the verification process.

Assuro must verify the identity of the individuals behind the application. To ensure your private information is kept confidential, we use Australia's largest identity verification platform, Green ID. This process does not require identification documents to be provided or stored by Assuro or Green ID.

Your relationship manager can assist if required.

3. Submit to the Bank

Once verified, your Assuro relationship manager will submit the bank guarantee application to the bank.

The bank will contact you to confirm receipt of the application lodged by Assuro and seek approval from the applicant.

4. Draft Bank Guarantee

Once the application is approved, the bank will send a draft bank guarantee via email for review and approval by the parties.

Once the draft has been approved, the bank requires the cash security.

5. Finalisation & Dispatch

Once the bank has received the cash security amount they will assign the funds to your account within days, your bank guarantee will then be finalised and dispatched to the nominated address. As part of the finalisation process, you will be sent the bank account details.

Once the guarantee is issued, the application is established on the Assuro platform. You will then be able to access a suite of tools such as return date alerts, cost tracking and custom reporting.

1
Signup & Invite

Some additional information regarding the signup process. Identifying any common queries clients have prior to signing up. Perhaps documentation and other particulars of the process.

2
Verification

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra.

3
Submission & delivery

Perhaps 'approval' instead?
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra.

4
Monitor & report

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra.

Bank Guarantee Finance
Need a bank guarantee but don't want to tie down the cash?
Financing the security for your next bank guarantee can help preserve your own cash to allocate to more important items.
Bank Guarantee Finance
Quick and easy finance solutions to
secure your next bank guarantee.
our Customers
Multi-award winning platform saving our customers time & money.
Time saving!
Assuro’s online platform is simple to use and has saved Phoenix Car Stackers significant time in terms of applying for and obtaining bank guarantees for our business.  It’s great to know that if there is an issue, my dedicated relationship manager is only a phone call or email away.
Phoenix Car Stackers logo
Robert Candler
Director, Phoenix Car Stackers
Image source: www.phoenixcarstackers.com.au
Great Product!
Assuro has centralised the updating of all of our bonds, bank guarantees and cash retention and empowered our team to do this quickly and easily. The result is a more accurate and improved understanding of this part of our business for management.
MMJ Real Estate logo
Chris Geers
Managing Director, MMJ Real Estate (WA) Pty Ltd
Image source: www.mmj.com.au
Best possible result.
TAMS engaged Assuro to obtain a surety bond facility and they worked tirelessly to help TAMS get the best possible result for our business.  The online management platform and application process saves us significant time and if we need any help, our relationship manager is always on call to assist.
Tams Group logo
Lee Bartlett
Chief Executive Officer, TAMS Group
Image source: www.tamsgroup.com.au
ASSURO CLOUD

Take it for a spin.

Let us take you through the platform and show you what Assuro can do for your business.

Assuro Platform Demo with relationship manager, Jarred.
Frequently Asked Questions

What is a bank guarantee?

A bank guarantee is an unconditional and irrevocable undertaking issued by a bank to a beneficiary to pay an amount of money if requested to do so by the beneficiary. A bank guarantee is provided by the bank on behalf of the issuing party who has generally deposited an amount of money equivalent to the bank guarantee with the bank.

Bank guarantees are used in a wide range of different circumstances but are commonly used to secure:
• commercial leases;
• commercial property transactions;
• contractual performance in the construction industry including defect or maintenance periods; and
• the purchase of large scale mining equipment.

Why are bank guarantees used?

Bank guarantees are a form of ‘security’ and provide the beneficiary with confidence that the issuer is capable of fulfilling its obligations and is an indicator of the issuer’s financial stability. From the issuer’s perspective, a bank guarantee demonstrates its willingness to perform its obligations whilst at the same time retaining its cash.

Are the bank guarantees issued through the Assuro platform only secured by cash?

That’s correct, Assuro will only provide bank guarantees that are 100% cash secured. This means that if you need a $100,000 bank guarantee you will need to deposit $100,000 with Assuro’s bank guarantee provider, an Authorised Deposit-taking Institution approved under the Banking Act 1959 (Cth).

Don't want to tie down the cash?
Assuro can connect you with a specialist, business to business lender who may be able to finance your next bank guarantee. For more information on Bank Guarantee Finance, click here.

What is a beneficiary?

The beneficiary is the party who receives the bank guarantee and can “call” on it if payment of the money is required or contractual obligations are not being performed.

What does it cost?

In addition to the security being deposited directly with the bank issuing the bank guarantee, Assuro will charge fees based on the bank guarantee product that is selected. Our lowest cost bank guarantee product has a one-off $399 establishment fee and no ongoing fees. Custom pricing may be offered to members of our channel partners or individual users of the Assuro platform depending on the size or volume of bank guarantees being applied for. There is no cost to set up an account with Assuro. Simply follow the prompts on our website to register as a user. Once registered, you can apply for a bank guarantee.

How long does it take to arrange my bank guarantee?

It only takes a few minutes to complete the initial Assuro application process. Once it is complete and the invoice paid, Assuro will conduct the relevant AML/KYC checks before submitting the application to our bank guarantee provider. You will then receive an email from our provider requesting that the application be approved. A draft bank guarantee will then be issued for approval by the issuer and the beneficiary. If no amendments are necessary, the cash security is deposited with our provider and the bank guarantee finalised. The bank guarantee will then be sent to the nominated delivery address by express post.

Do I need to complete any paperwork?

No. The application process is entirely digital. However, we may need some physical documents to be emailed in order to complete our AML/KYC checks on individuals associated with the application.

How do I receive my bank guarantee once it is finalised?

The bank guarantee will be sent by express post to the nominated delivery address. It can either be sent to the issuer or directly to the beneficiary.

How do I amend or cancel my bank guarantee?

Simply contact your relationship manager at Assuro and complete a form. Alternatively contact Assuro at info@assuro.com.au or call us on 1300 134 315.

How can I manage my bank guarantee once it is established?

In addition to Assuro’s competitive fees, bank guarantees established through the Assuro platform will automatically integrate with Assuro Cloud, our market leading management platform. Assuro Cloud will allow you to set reminders, track the custodian, generate reports and utilise cost calculators to ensure that your business has tighter control over its bank guarantees and streamlined administration processes.

Will the bank guarantee have an expiry date?

You can nominate whether the bank guarantee will have an expiry date. Generally, this is a matter dictated either by the applicable contract or the beneficiary. Even if the bank guarantee doesn’t have an expiry date on it, Assuro Cloud will allow you to set an expected return date so you can be reminded to follow up the beneficiary once the bank guarantee should have been returned.

Can I transfer my existing bank guarantees to the Assuro platform?

Yes. You can do this one of two ways. You can either create a new bank guarantee and then use it to replace the existing bank guarantee but this will mean that for a short period of time you will have paid two security deposits. To avoid this, Assuro has developed the Bank Guarantee Switch product which enables you to replace an existing bank guarantee without doubling up on the security deposit. There is a transfer fee when using the Bank Guarantee Switch feature.