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Business Bank Guarantee

You could take on new business opportunites while keeping your working capital free by offering a payment guarantee to your customers and suppliers.

Enquire now

Benefits

Security

Your suppliers and customers will have peace of mind knowing the bank has guaranteed the funds.

Earn credit interest

Earn interest while using cash as security for the guarantee. 1 You could also use residential or commercial property as security. Close

One approved limit

Option to have one limit approved with the ability to issue multiple guarantees. 2 Subject to approval. Close

How it works

What is a Bank Guarantee?

A Bank Guarantee is a surety in writing that we give to a third party to guarantee that a payment you owe them will be made on demand.

Only the beneficiary (your customer or supplier) can demand the payment.

How could it help grow your business?

You could use a Bank Guarantee to take advantage of business opportunities like large contracts, new premises or equipment without tying up your cash flow.

How much can be guaranteed?

There's no minimum limit, and the maximum limit is subject to approval. If you’re eligible, your guarantee will be for a nominated amount.

Common ways to use a Bank Guarantee

Bank Guarantees could be used as security in lieu of cash for...
1

Building contracts

Use instead of retention money (also known as performance bonds).
2

Progress payments

Suitable for construction projects, or large scale plant and equipment purchases.
3

Payment of future accounts to a third party

For example, your customers or suppliers.
4

Property leases

Secure a tenant's obligations to a landlord under a lease agreement.

Fees

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Name Fees
Establishment fee Available on application
Issuance fee Calculated per annum on the face value of the Bank Guarantee issued 3
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Details of other fees that may be incurred will be provided on approval of the Bank Guarantee.

For more information about this product, see the Business Bank Guarantee customer fact sheet (PDF).

Enquire today

Check your eligibility

  • Use cash or property (residential or commercial) as security
  • You must meet Bankwest's lending criteria.
1

Things you may need for your application

  • Current business and personal financials, and details of the property you intend to use as security if applicable. We'll let you know exactly what documents you need to provide to us
  • If anyone connected to your application is new to Bankwest, including account signatories, key decision makers/beneficial owners (through ownership or control), trustees, guarantors and office holders, they'll need photo ID like an Australian driver's licence or passport. Or, see a handy list of other ID we’ll accept.

Make an enquiry

How can we help?

Business Specialists Team
Speak with someone from the team today

Business Banking Specialists

Here’s how to get in touch

13 7000
Make an enquiry