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Deposit Bond Application Form

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IMPORTANT
This Deposit Bond Application relies on the information provided by the Applicant in your loan application. All Applicants and guarantors noted in your loan application are Applicants and Guarantors for the Deposit Bond Application.


What is a deposit bond?
A Deposit Bond is a bond or guarantee that acts as a substitute for a cash deposit between signing contracts and settling on a property. The bond guarantees that payment of all or part of the deposit will be made at the time of settlement and the value is capped at maximum 10% of the purchase price of the property. The insurer issues the Bond to the Vendor for all or part of the deposit required (up to a maximum of 10% of the purchase price)

At settlement the purchaser is required to pay the full purchase price including the deposit. If you default under the Contract of Sale and are required to forfeit the deposit, the Vendor can claim the Bond amount from the insurers. The insurer will then recover the money from the Purchaser

PLEASE NOTE:

A non-refundable application fee applies. If the unused Deposit Bond is returned within 30 days of issue date, we will refund the amount paid less our administration fee. Bonds returned after 30 days of issue date will not be eligible for a refund.



All fields marked with an asterisk (*) are required.
User Details: (We request this information now in case your online application is interrupted for any reason. You are then free to return to this application via a secure login)


I/We have read and understood the Indemnity Terms
I/We have read and understood the Applicant/s Statement
I/We have read and understood the Privacy Statement
I/We irrevocably authorise QBE Insurance (Australia) Limited ABN 78 003 191 035 (QBE) to serve the Applicant’s solicitor if service cannot be effected on me/us.


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**Please note. Once you click ‘Proceed’, you’ll receive an email with a Username and Password. You can use this combination to return to your Online Application within 60 days should you not fully complete the application now. You’ll also need the combination to log back in and upload various support documents that we require as part of your Deposit Bond Application. Should you misplace the email with your log in details, call 1300 851 351 during Sydney business hours.**