More information
It's about providing a service. But more importantly, it's about assisting our clients. People come first.

Guarantee information

Guarantees are issued in terms of the following wordings, but not limited to:

  • JBCC Contracts
  • GCC 1990 and GCC 2004 Contracts
  • NEC 3 Contracts
  • FIDIC Contracts

Our guarantees are accepted throughout South Africa by the following principals, to name but a small few:

All banking institutions
All government institutions
ESKOM Limited
South African Nation Roads Agency Limited (SANRAL)
Intermediaries Guarantee Facility Ltd (IGF)
Transnet Limited
Engen Limited
Caltex Limited
Rand Water Board Limited

The Process

The 7 Step Guarantee Application Process
1Client completes proposal form

2Client provides applicable documentation as per our checklist

3Our underwriters assess the application and prepare a report for the Underwriting Committee

4Application submitted to the Underwriting Committee and any queries are handled with the client

5Sign-off from the Underwriting Committee, approval letter sent to client

6Client to accept the terms and provide FICA documentation

7Security documentation is signed, collateral is registered and the guarantee is issued

Rating and costs

The rating for Construction related and Solvency Guarantees is highly dependent on the information received, the security provided and the financial status of the company. The current market related rate varies from 1% to 4% of the guarantee amount, charged per annum (excluding VAT).

For a detailed indication of costs and collateral requirements, please give us a call.