Individuals and companies who are buying residential or commercial property are eligible to apply for a Deposit Bond.  Individual applicants need to be residents of Australia, and currently living in Australia.  Company applicants must be an ASIC regulated Pty Ltd entity.

No – a buyer does not need to provide any security for a Deposit Bond.  A Deposit Bond can be arranged very quickly, in comparison to bank loan or bank guarantee, which can take weeks to organise and always requires security.

The fee for a Short-Term Deposit Bond is 1.3 percent of the deposit amount, up to a term of six months.

As a guide: the fee for a Long-Term Deposit Bond is around 3 percent, per annum, of the deposit amount, payable in advance.

With interest rates currently running at close to six percent, per annum, you can save money by using a deposit bond – without the need to provide any security – which is always a requirement of a bank loan, or bank guarantee.

Yes! We pre-approve your Auction Deposit Bond for FREE. Your pre-approval is for a maximum deposit amount.  You can attend any number of auctions, safe in the knowledge you are pre-approved for that maximum deposit amount. When you are the successful bidder at an auction, you send ENAYBLE a copy of the relevant pages of the Contract for Sale, and pay the fee for the Deposit Bond.  Then we issue your Deposit Bond immediately, and it will contain all details of the specific property you are purchasing.

Yes, and Yes! You can obtain a refund on a Short and Long-Term Deposit Bond if the original is returned within fourteen days of the issue date,  provided it has not been used to commit to buying a property. 

You can also obtain a partial rebate on a Long-Term Deposit Bond if the sale transaction settles more than six months before the expiry date of the deposit bond.

NOTE: Terms and Conditions apply to both refunds and rebates, the details of which are contained in the application form.

For all of the reasons below, sellers are usually very happy to accept a Deposit Bond:

• they know the buyer is been vetted by an external third party.
• the Deposit Bond product has been common place in Australian property contracts for over thirty years, so even if the vendor is not aware of it, their solicitor or conveyancer certainly will be.
• The Deposit Bond is an irrevocable, unconditional, guarantee to pay.

The Deposit Bond is issued on the expectation and understanding that the buyer will pay the seller the Deposit Bond amount on the settlement date of the contract. The Counter Indemnity Agreement forms part of the application form that the buyer signs. It is a legally binding right the buyer gives to the Insurer, to recover from the buyer, any part of the Deposit Bond amount that must be paid to the seller if the buyer should default under the Contract for Sale, and does not complete on the purchase.

If the buyer defaults on the property purchase, the seller is entitled to retain the Deposit Bond amount which they claim from the Insurer.  The Insurer then seeks recover of the Deposit Bond amount they paid from the buyer.

If the buyer is applying for a Short-Term Deposit Bond and has a loan approved, all that is needed is a copy of the loan approval,  the relevant pages of the Contract for Sale, and evidence of any funds the buyer is contributing towards the purchase.

If the buyer is applying for a Long-Term Deposit Bond for an off the plan purchase. The buyer needs to provide evidence of their current property ownership, such as a council rates notice, a recent loan statement – if they have a mortgage, and the relevant pages of the Contract for Sale including the Special Conditions.