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EFIC's bonding facilities are available for export contracts where your buyer requires a contract bond as financial assurance that you, as a small to medium-sized enterprise (SME) exporter, will honour your contractual obligations. EFIC can provide bonds for contracts if your financier is unable to assist you and where you meet EFIC's eligibility requirements. Advance Payment Bonds
In return for advancing funds to assist with contract progression, overseas buyers often require a bond that provides them with protection in relation to your contractual obligations. Performance Bonds
Overseas buyers often require a performance bond that provides them with financial security in relation to your performance under the contract. Bid or Tender Bonds
International contracting often requires bidders to submit a bid bond to provide tangible evidence of credentials. An EFIC Bid or Tender Bond can provide your buyer with security against losses that might be faced if you are unwilling or unable to take on the contract, after you have lodged your bid and been awarded the contract. Maintenance, Warranty or Retention Bonds
These bonds provide your buyer with protection from losses should you fail to comply with your warranty obligations after completing the contract. These bonds may be provided as an extension to a performance bond. Benefits at a glance - Provides you with the security to compete more effectively in global markets
- Frees up your working capital
- Flexibility - bonds can be issued directly or in conjunction with a commercial financier
- Provides buyers with the added assurance of EFIC's AAA rating
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Product Features Eligibility - A contract for the export of capital goods or services that requires a bond, with a sufficient level of Australian content
- Your financier is unable to assist you
- For further information see General Eligibility >
Fees - Pricing is based on a number of variables including liability, duration, risk factors and security considerations.
Security - Minimum security may be as low as 5% of the bond value (cash or unconditional payment guarantee) but is dependent upon the bond type and assessment of the risks involved
- EFIC has recourse to company directors and related companies.
Additional Features - Option of Unfair Calling of Bond Insurance
- Consideration of conditional or unconditional bonds.
Eligibility and Application For all applications and enquiries contact us at finance@efic.gov.au or call us on 1800 887 588 between 8.30am - 5.30pm, Monday to Friday (AEST), or if outside Australia on +61 2 9201 2111.
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