What happens if you don’t go through with the purchase?
If you default under the contract of sale, the vendor can claim the deposit
amount from the deposit bond guarantor. The guarantor will then seek to recover the deposit amount from you. Should this occur,
please contact us immediately so we can assist you.
Indemnity
Included in the application form is a counter indemnity that
must be signed before a Bond can be issued. The Insurer gives the guarantee provided by the Bond on the understanding that you will
pay the vendor the Bond amount on the settlement date of the contract. The Counter Indemnity is the legally binding right you give
to the Insurer to pursue recovery against you for any part of the Bond amount we must pay to the vendor, if you default under the
contract.
Privacy
We are committed to safeguarding your privacy and the confidentiality of your personal information. We will collect personal information from or about you, for the primary purposes that are relevant to your Deposit 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 Deposit Bond.
