Performance Bonds


Performance Bonds provide bonds as security to help Aboriginal and Torres Strait Islander owned businesses fulfil contracts.

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Application detail:

Apply at any time.

What do you get?

Performance or warranty bonds.

Who is this for?

Aboriginal and Torres Strait Islander owned businesses.

Overview

Indigenous Business Australia (IBA) can either issue bonds directly to your buyer or provide cash security to a bank who will issue the bonds. The types of bonds that IBA can provide include:

  • Performance bonds – give the buyer of your product or service assurance that if you don’t meet your obligations under a contract, the buyer can call on the bond to reduce its losses.
  • Warranty bonds – protect your buyer from loss if you don’t meet your contractual warranty latent defects period (usually 12 months), after the contract is completed.

What are the eligibility criteria?

To be eligible, businesses must:

  • be 50% Indigenous owned and controlled
  • have a track record of profitability and successful completion of similar projects
  • be incorporated or be a partnership/joint venture between incorporated entities
  • demonstrate capable management, including contract management
  • have an adequate credit history.

How do you apply?

Find out more about eligibility and how to apply at Performance Bonds.

Contact information