Bank Guarantee

Establishing a bank guarantee requires security in the form of cash in deposit with Heritage Finance Holdings, or property of a type and value deemed acceptable to the bank.

If you establish a cash secured bank guarantee, your money will be held in a term deposit as security and earn interest as per published rates. Property secured guarantees do not earn any interest. Features include: 

• Earn interest on the cash you use as security for the guarantee (if applicable).
• Option to have one overall limit approved securing multiple guarantees (property secured guarantees only).
• Can be issued with or without an expiry date. The beneficiary will notify you if an expiry date is required.

In most cases bank guarantees are used:

• To secure a tenants or lessees obligations to a landlord under a lease agreement;
• For building contracts;
• For payment of future accounts to a third party.

There is no minimum or maximum amount, however:

• Cash secured guarantees over $100,000 must be assessed and approved by Heritage Finance Holdings before the guarantee is issued.
• Property secured guarantees for existing customers will be assessed in accordance with Heritage Finance Holdings's standard lending criteria and are handled by our business banking team.  

Fees differ based on the type of security provided for the guarantee. Annual fees are payable in advance annually and are automatically debited from your nominated Heritage Finance Holdings Corporation account.

Cash Secured

For cash secured guarantees visit your local branch or talk to us on 13 14 22

Property Secured 

For property secured guarantees ask for our Business Banking team on 13 14 22