What is a Deposit Bond? | Benefits of Deposit Bonds | Deposit Assure
What is a deposit bond by Deposit Assure?

WHAT IS A DEPOSIT BOND?

When buying a property or land, you have to provide a cash deposit, normally up to 10% of the purchase price. This deposit is used to guarantee the commitment of the buyer to the contract of sale.
If you are looking to buy, but do not have ready or convenient access to the 10% cash deposit required, a deposit bond may be the solution you are looking for.
There are many reasons why you could benefit from a deposit bond:
Whatever the reason deposit bonds are a smart and viable alternative that can make it easier for you to purchase property or land when you do not have ready access to the 10% cash deposit required.
Ready to Apply?
Simply click the 'Get Started' button to complete the quick Concierge form. Here’s what you can expect:

When the application is sent to you, by default you will be sent a secure link by email to make payment by credit card and also to sign the application with Docusign.

Should you wish you can also pay via direct EFT or request to sign and scan the application manually.

You can choose to either return the deposit bond within 30 days for a refund of the premium you paid less a $200 admin and processing fee, or once you find another property you can request to transfer the credit already paid to a new deposit bond that we can issue for you.  Be sure to contact us as soon as possible if this happens.

We do not transfer any funds to the vendor, we are only providing a guarantee for the deposit amount which you will pay at the time of Settlement.

When Settlement takes place the deposit bond expires and is no longer valid.

The vendors legal representative who would be holding your deposit bond can choose to dispose of the deposit bond or file it away.

If you have obtained a long term deposit bond, and there is still greater than 6 months remaining on your bond, you can send the original deposit bond to Deposit Assure to see if you are eligible for a pro rata refund.*conditions apply

Want to learn more about what is a deposit bond and how they work?
Below you will find a selection of some handy resources that will help you understand what deposit bonds are and how they work.
Video 1: What is a deposit bond overview (3 mins viewing time)
Video 2: What is a deposit bond overview (1 min viewing time)
Video 3: 4 Things Vendors Need To Know When Considering a Deposit Bonds versus a Cash Deposit (1 min viewing time)
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Everything You Need To Know About Deposit Bonds
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