Bank Guarantee
Guarantee payment without having to supply an upfront deposit or bond.{sub-heading}
At a glance{yellow-border}
Why use a Bank Guarantee?{yellow-border}
A BOQ Bank Guarantee is an alternative to providing a deposit or bond. It is a written promise that BOQ will pay the nominated beneficiary on demand, up to a specified amount. Bank Guarantees enable you to grow your business by providing your suppliers, landlord, or government authorities with the security of guaranteed payment. {sub-heading}
Improve cash flow
Conserve your cash so it can be used to grow your business.
Earn interest
Use cash as security and earn interest on your BOQ term deposit.
Express application process
For fully cash-secured facilities, with a customer limit up to $100,000, a Bank Guarantee can be in your hands within 5 – 8 business days.
Limit your liability
By matching the expiry date of a Bank Guarantee to its purpose you know that the beneficiary cannot claim once your obligation has ended. This makes it easier to release your security without the need for the original Bank Guarantee to be returned.
Rates & Fees{yellow-border}
At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you upfront so there are no surprises.
Express Bank Guarantee Facilities1
- 2.95% per annum of the Bank Guarantee facility limit payable each 6 months in advance.
- Automatically debited from your BOQ transaction account.
Standard Bank Guarantee Facilities2
- 2.95% per annum of the Bank Guarantee facility limit payable each 6 months in advance.
- Automatically debited from your BOQ transaction account.
