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Give your clients faster, simpler guarantees — without the red tape, delays, or tied-up capital.
With Assuro, brokers get a simple referral solution, and clients get faster, smarter guarantees. It works better for everyone.
Get deals moving: close more deals faster and reduce transactions bottlenecks.
Get paid: Earn commission without the extra work.
Win client trust: Deliver better outcomes with less hassle.
No queues, no paperwork: Apply and manage everything online.
Solutions that fit: A range of products tailored to business needs.
Fast turnaround: Finalised and dispatched in days, not weeks.
Simple referrals: Just connect your client — we take care of the rest.
Expert support: Personalised service, clear guidance, and reliable communication.
Happy clients, stronger relationships: Faster guarantees that make you the hero.
Simple referral, no extra work: Just point your client our way — we handle the process end-to-end.
Trusted support for your clients: We provide expert service, detailed guidance, and clear communication.
Make your clients happy (and grateful): Faster, easier guarantees that reflect positively on you.
Assuro is an Australian fintech company that provides an innovative and cost-effective bank guarantee solution through our award-winning digital platform. Our in-house team of developers, designers and relationship managers are changing the way businesses obtain bank guarantees with our purpose-built platform, bank guarantee application process, and unparalleled customer service.
Founded in 2018 and headquartered in Western Australia, Assuro provides its award winning service pursuant to an Australian Financial Services Licence (527890) in conjunction with our partner banks, Beyond Bank Australia and BNK Banking Corporation. Assuro’s online platform provides users with multiple guarantee options and has replaced the outdated, paper based processes allowing businesses to streamline the management and administration of bank guarantees, saving time and money.
CEO and Founder, Leon Weston, had experienced the inefficiencies sourcing bank guarantees from the traditional banks while running his national subcontracting business. Driven by a desire to solve this problem, Assuro has been designed to simplify the bank guarantee lifecycle and provide a range of market leading products in one place. Creating an account is free and each client is assigned a dedicated relationship manager to assist every step of the way. Assuro’s strong relationship with our partner banks ensures a seamless experience, quick turn around times and optimal service.
Bank guarantees play a critical role in protecting the interests of parties in commercial transactions – particularly in industries such as leasing, construction, and contracting, where significant financial obligations are involved. This guide provides an overview of what a bank guarantee is, who uses them, how they work, and how Assuro helps streamline the process.
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.
The business that is required to provide the bank guarantee will need to submit an application to the bank. Once the application has been processed, the bank will issue a draft bank guarantee to the parties. If the draft bank guarantee is acceptable, the applicant will deposit an amount of cash with the bank equivalent to the bank guarantee. For example, if the bank guarantee is for $50,000 the applicant will need to deposit $50,000 with the bank issuing the guarantee.
Once the cash security is received, the bank will issue the bank guarantee to the beneficiary (the party receiving the guarantee from the applicant). The beneficiary will then hold the guarantee until the lease concludes or the construction project is complete. If the applicant does not perform its obligations under the lease or construction contract, the beneficiary can ‘claim’ the bank guarantee by presenting the original document to the bank and requesting payment. If the original bank guarantee is presented to the bank by the beneficiary, the bank will pay the money to the beneficiary.
Alternatively, if the applicant completes its obligations under the lease or construction contract, the beneficiary will return the original guarantee to the applicant. The applicant can then return the original guarantee to the bank and the bank will release the funds it holds back to the applicant.
The Assuro platform saves our clients time and money by offering a range of marketing leading guarantee products in one place without having to visit the bank. The Assuro platform ensures all the relevant information is gathered at the outset and coupled with assistance from our dedicated relationship managers, bank guarantee applications are processed as efficiently and as easily as possible.
We’re here to simplify business, not complicate it.
check_boxMultiple banks to choose from
check_boxHigh return guarantees
check_boxLow-cost guarantees
check_box15 minute application
check_boxSame day draft approval
check_boxIssuance in 1-3 business days
check_boxReal-time updates
check_boxExceptional customer support
check_boxTools to streamline ongoing management
Assuro provides a bank guarantee solution through our award winning online platform which simplifies the process of obtaining bank guarantees. While the bank guarantee is still issued on paper, our application process is 100% digital, eliminating the need for traditional paperwork and visits to the bank.
We don’t issue the bank guarantees, instead we partner with Australian banks like Beyond Bank Australia and BNK to issue the guarantee and hold the security.
No hidden costs. Tailored guarantees that deliver exceptional value.
Beyond Bank Australia
N/A
$5501
1.40% p.a.3
3.20% p.a. (variable)2
BNK
$15,000 - $49,999
$399
0% p.a.
0.75% p.a. (variable)2
BNK
$50,000 +
$399
0% p.a.
1.80% p.a. (variable)2
Facilitator, not a bank
The Assuro platform enables the bank guarantee application process to be completed online which also streamlines the ongoing management of established bank guarantees.
But Assuro is not a bank and does not issue bank guarantees. Instead, we partner with Australian banks that issue the guarantee and hold the security.
Simple digital experience
Our platform offers a seamless, digital experience for business. While the bank guarantee is still issued on paper, our application process means no more trips to the bank.
Dedicated support
Your assigned relationship manager will guide you through the process and be on hand to answer any questions you may have.
The relationship
Assuro collaborates with trusted, authorised deposit-taking institutions that issue the guarantee and hold the security. To do this, Assuro holds an Australian Financial Services Licence (AFSL 527890).
Exceptional service
By working closely with our banking partners, we can assist you throughout the process, ensuring the application is processed smoothly and that you receive the best possible service from the bank.
Cash security & issuance
The applicant sends the cash security directly to the bank. The bank will assign the funds to your account and send you the account details as part of the finalisation process.
The bank guarantee issued will be from the nominated bank and with the bank's logo on the guarantee. Assuro will not feature on the guarantee itself in any way.
Award-winning
Our award-winning digital application offers businesses and banks an alternative to traditional, often complex and time-consuming paper-based processes by providing a faster, more transparent and cost-effective solution.
Ongoing management
Creating an account is free and all users get unrestricted access to a suite of tools that streamline the ongoing management and administration of your financial securities.
Tighter control
Features like our custom alerts, custodian tracker and time-stamped communication panels all assist you in maintaining control of your financial securities.
From application to return, we've got you covered.
Get in touch for a personalised walk through of the platform.
Get in touch for a personalised
walk through the platform.
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.
Your relationship manager can assist if required.
3. Submit to the Bank
Assuro will submit the bank guarantee application to the bank on your behalf.
The bank will contact you to confirm receipt of the application and seek approval from the applicant.
4. Draft Bank Guarantee
The bank will email a draft bank guarantee for review and approval by the parties.
Once the draft has been approved, the bank requires the cash security.
5. Finalisation & Dispatch
Cash security: The applicant sends the cash security directly to the bank. Once received, the bank will assign the funds to your account and send you the account details as part of the finalisation process.
Physical document: With the funds transferred, the bank guarantee will be sent by registered post to the nominated delivery address.
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The idea is that they will be able to download brochures to pass onto clients.
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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:
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.
Yes, all guarantees through Assuro are 100% cash secured (min. value: $15,000). This means that if you need a $100,000 bank guarantee you will need to deposit $100,000. The security is deposited directly with and held by the bank. Under the FCS, deposits up to $250,000 are protected by the Australian Government’s guarantee on deposits.
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.
The beneficiary or favouree 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.
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. Click here to register as a user. Once registered, you can apply for a bank guarantee.
Applications can be submitted online in minutes, and the bank guarantee can be finalised and dispatched within days.
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.
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.
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.
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 administrative processes.
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.
Yes. You can do this by creating a new bank guarantee and then using 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.
The physical paper-based document will be sent via registered post to the nominated address. Only the application process is digital.
The bank guarantee issued will be from the nominated bank and with the bank’s logo on the guarantee. Assuro will not feature on the guarantee itself in any way.
Assuro can connect you with our specialist business-to-business lending partners who offer a range of financing options, including unsecured loans, secured loans and lines of credit.
