Once in receipt of your completed Application (below), we will immediately provide the nominated Vendor with a Terms Sheet for completion and return for acceptance, amendment or otherwise.

An Application/Processing Fee of $330.00 (Inc GST) will become due & payable only if and when agreement to the terms of the loan has been reached by both parties.

Issue a Vendor Bond

  • Following receipt of your application the following will occur: 1. VendorBonds admin will forward a Terms Sheet for completion first by the Vendor and then on to you for your signature in agreement. 2. Once we are in receipt of the completed & ratified terms sheet we then prepare the Vendor Bond & forward it BY REGISTERED MAIL to you, the Maker (the borrower), for signing and witnessing. 3. Next you, or we, will deliver the Vendor Bond to the Lender. 4. Both parties are provided with a copy of the loan repayment schedule. 5. Registration of the Vendor Bond. VendorBonds.com maintain a register of all Vendor Bonds issued in case a Vendor Bond is lost or stolen.
  • VendorBonds.com is committed to protecting the privacy of all individuals and organisations to which we provide business services. In order to ensure that we are consistent in this approach, VendorBonds.com has adopted a Privacy Policy to comply with the National Privacy Principles contained within the Privacy Amendment (Private Sector) Act.
 

Verification

Next Steps:

  1. Once a Vendor Bond Application has been completed and returned, a Terms Sheet is then prepared & forwarded to the parties to the Loan. TheTerms Sheet sets out the terms and conditions of the Loan and what security will be provided (if any).
  2. Once both parties have signed off on the Terms Sheet, Vendor Bonds administration will prepare the Vendor Bond, which is then sent by registered post to the Borrower to be signed and witnessed. The Lender (Payee) receives & holds the signed and witnessed original and the Borrower keeps a copy. The parties will each receive a loan repayment schedule.
  3. Vendor Bonds keep a register of each Vendor Bond issued in the event it becomes destroyed, lost or stolen.

Allow 3 to 5 days after submitting your Application for the Vendor Bond to issue.

Fee schedule & Checkout