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An ANZ Indemnity and Guarantee (IG), commonly known as a Bank Guarantee, is a
widely accepted formal financial obligation to a third party. It is guaranteed by ANZ on your behalf.
In a typical situation, the third party might be a supplier or someone who is
completing a project for you. The bank guarantees payment to the third party. The amount of
the financial obligation or guarantee is flexible, but limited to by ANZ's normal credit assessment
criteria.
With an IG, the benefit to you is in being able to use funds for other purposes.
For example, rather than providing a cash bond for a lease, you could use an IG. Your cash is
then freed-up for other purposes.
Sometimes when tendering for contracts, you may be required to provide a
letter confirming the Bank's undertaking to issue a guarantee if your tender is successful.
ANZ can provide such a letter on application.
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Purpose
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Payments for your performance or financial obligations to a third party are guaranteed by ANZ. All ANZ Indemnity and Guarantees have a maximum liability and offer no obligation other than the payment of money. The issuance of an IG facility depends on ANZ agreeing to your application, and you also need to execute all documents as required by ANZ.
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Amount
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No minimum or maximum amount.
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Security
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Unsecured or secured by residential, rural or commercial property and/or business assets, or a combination of these.
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Fees and Charges
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Fees and charges are payable.
Click here to refer to the ANZ Business Banking Finance Fees and Charges brochure for relevant details.
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For further information phone us on , 8am – 8pm AEST Monday to Friday.
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