Bonds for Aboriginal and Torres Strait Islander businesses
Performance Bonds provide bonds as security to help Aboriginal and Torres Strait Islander owned businesses fulfil contracts.
Indigenous Business Australia (IBA) can either issue bonds directly to your buyer or provide cash security to a bank who will issue the bonds. The types of bonds that IBA can provide include:
- Performance bonds: give the buyer of your product or service assurance that if you don’t meet your obligations under a contract, the buyer can call on the bond to reduce its losses.
- Warranty bonds: protect your buyer from loss if you don’t meet your contractual warranty latent defects period (usually 12 months), after the contract is completed.
Key dates
Ongoing