A quote takes between 24 – 48 hours to finalise, subject to all information being received.

It depends on the strength of your financial position. The premiums are between 1% to 3.5% ex vat paid up front, Pro-rata, per annum. The duration and bid bond amounts are as per the tender document. Guarantors have minimum duration and premiums that do apply as per facility terms and conditions.

Here is an example for illustration purposes only. Lets assume the tender document requires you to submit a bond of R1 000 000 that is in place for 3 months. We will further assume that you qualify for 2% ex vat premium. The cost would be R1 000 000*2%/12*3 = R5 000 paid upfront and once-off, minimum duration and premium may apply depending on your facility limits.

It depends on the strength of your financial statements. Collateral can be anywhere between 0% to 30% of the guarantee value. On successful cancellation of the guarantee your collateral will be reimbursed with any interest accrued.

Blenheim has specific expertise in raising insurance-backed guarantees from leading insurers. The insurers with whom we deal are reputable and accredited with all employers in South Africa including all municipalities, ESKOM Ltd, Transnet SOC Ltd and blue-chip listed entities.

A- A quotation usually takes 24 – 48 hours to finalise, subject to all information being received and, with all the correct documentation completed and information submitted, the facility can be put in place within four to seven working days.

With the facility in place, a guarantee is issued within 24 to 48 hours. Your facility can then be used for all your future guarantees up to a prescribed facility limit and multiple guarantees can be issued.

Remember we can still issue a letter of intent and draft guarantee during the setup of your guarantee facility. Provided sufficient documentation has been received.

Banks normally take 100% collateral and still charge fees to have a guarantee facility in place. Our insurers offer lower collateral requirements, and you pay only for the guarantees you require. There are no annual fees for having a facility in place via Blenheim.

A Bid Bond facility separate from the bank will enable your company to grow since your financing can be handled by the bank and we do your Bid Bonds.

Advance Payments are normally between 15 and 20% of the contract amount. There are only a few insurers in South Africa willing to issue a stand-alone Advance Payment Guarantee without a performance / construction guarantee being in place prior to the issuing of an Advance Payment Guarantee. At Blenheim we have the expertise, experience and the relevant insurers on our panel to assist you.