Commercial Lease Bonds Important Information
Are the Landlord’s willing to accept the Bond?
The Bond can be organized within 2 business days and with the security provided reputable insurance companies, will give comfort to the Landlord enabling Lease Contracts to be signed, and secured.
The security provided by a major Financial Institution is much desired by Landlords as they have the comfort of knowing that, in the event the Tenant defaulting under the Lease, the Landlord has the security Lease guaranteed.
The Bonds are available throughout
I default under the Lease Agreement?
In the event of the landlord claiming the guaranteed amount under the lease bond, the guarantor (insurer) will release this amount to the landlord and the lessee will be liable to indemnify the guarantor for all amounts payable by them in respect of the lease bond.
When does the Bond Terminate?
The bond terminates 180 days after the Lease Agreement has expired. The Bond also terminates when the Insurer pays a claim, or the Landlord terminates or rescinds the contract.
Can I get a refund if I don’t use the Bond?
Yes. If you return the unused, original Bond within 30 days of issue the fee will be partially refunded. After deducting a $550 (incl GST) application/administration charge, a cheque or direct credit for the balance will be forwarded to you.
Privacy
We are committed to safeguarding your privacy and the confidentiality of your commercial and personal information. We will collect commercial and personal information from or about you, for primary purposes that are relevant to your Commercial Lease Bond Application. We will use your personal information in a way that you would reasonably expect. If you do not give us this information we cannot issue you a Commercial Lease Bond.
