Unprecedented New Surety Bond Facility

Mar 8, 2017 | News

Previously in the Australian Surety Market, Underwriters would only consider companies with turnover in excess of $30m (realistically $50m) with net assets of $5m.

We now have available to us, an “A” rated Underwriter who will consider companies with turnover of $20m. This is unprecedented in Australia.

This means that the smaller quality companies and sub-contractors will now be considered for a Surety Bond Facility, providing the same benefits as the larger companies are currently enjoying.

If you meet the following criteria or you know of a company that meets the criteria, do not hesitate to contact us:
• Revenue of at least $20 Million per annum (an average of $20 Million over a 3 year period);
• Must have a minimum net tangible worth of $1 Million;
• Positive cash flow;
• Positive working capital;
• At least 3 years of continuous profitability;
• Operating for at least 5 years.

The Underwriter is also able to provide Bank Fronted Guarantees (within the Surety Bond Facility) should a Surety Bond not be acceptable to a Principal, which allows the Surety Bond Facility to be deployed more efficiently.

For more information

+ 61 2 8019-7269
enquiry@steningsimpson.com.au

Our Customers Say

We are a publicly listed company and have utilised the service of Stening Simpson in excess of 10 years.  They have supported our company through some very difficult years

Sam L

Stening Simpson
2020-10-21T17:45:49+11:00

Sam L

We are a publicly listed company and have utilised the service of Stening Simpson in excess of 10 years.  They have supported our company through some very difficult years
Stening Simpson is one of the most professional groups.  They have been one of the primary reasons for our success due to them securing multiply facilities on our behalf at significantly reduced rates compared to our Bank Guarantee rate.

Frank I

Stening Simpson
2020-10-21T17:46:23+11:00

Frank I

Stening Simpson is one of the most professional groups.  They have been one of the primary reasons for our success due to them securing multiply facilities on our behalf at significantly reduced rates compared to our Bank Guarantee rate.
It has been an absolute pleasure working with Stening Simpson. We appreciate you finding us the Bond Facility through Berkshire.  We thank you for your advice, availability and timely execution of Bonds. We look forward to continue working together next year.

Zaheer G

Stening Simpson
2020-12-23T06:21:18+11:00

Zaheer G

It has been an absolute pleasure working with Stening Simpson. We appreciate you finding us the Bond Facility through Berkshire.  We thank you for your advice, availability and timely execution of Bonds. We look forward to continue working together next year.

I have known the Stening Simpson team since 1999; for over 20 years. Through our Company’s Surety Bond facilities arranged by Stening Simpson, the late Peter Stening, Elaine Simpson and David Wright have always been supportive to our Company, our Surety Bond providers’ relationships, periodic facility renewals and our many day-to-day Surety Bond requirements. The Stening Simpson team has always acted professionally, respectfully and with a high level of excellent customer service and care.

Frank I

Stening Simpson
2020-12-23T06:28:00+11:00

Frank I

I have known the Stening Simpson team since 1999; for over 20 years. Through our Company’s Surety Bond facilities arranged by Stening Simpson, the late Peter Stening, Elaine Simpson and David Wright have always been supportive to our Company, our Surety Bond providers’ relationships, periodic facility renewals and our many day-to-day Surety Bond requirements. The Stening Simpson team has always acted professionally, respectfully and with a high level of excellent customer service and care.
Stening Simpson introduced Surety Bonds into the Australian market over 30 years ago.  Their first facility was secured from overseas markets for the largest construction company at the time.  We regard Stening Simpson as one of the most professional Specialised Risk Brokers we deal with. They continue to manage the Surety Bond requirements of a number of major corporations throughout Australia

James D

Stening Simpson
2020-10-21T17:35:19+11:00

James D

Stening Simpson introduced Surety Bonds into the Australian market over 30 years ago.  Their first facility was secured from overseas markets for the largest construction company at the time.  We regard Stening Simpson as one of the most professional Specialised Risk Brokers we deal with. They continue to manage the Surety Bond requirements of a number of major corporations throughout Australia
Our business relationship commenced with Stening Simpson in 1993 at a time when our company and the Construction Industry was suffering low turnover levels and competitive margins.  Stening Simpson exhibited great skill and to a certain extent bravado in taking on our business at that time. This exemplified their understanding of the construction industry.

Stening Simpson conduct their business in a professional, courteous and business-like manner and we recommend their services.

Ravin R

Stening Simpson
2020-10-21T17:38:14+11:00

Ravin R

Our business relationship commenced with Stening Simpson in 1993 at a time when our company and the Construction Industry was suffering low turnover levels and competitive margins.  Stening Simpson exhibited great skill and to a certain extent bravado in taking on our business at that time. This exemplified their understanding of the construction industry. Stening Simpson conduct their business in a professional, courteous and business-like manner and we recommend their services.
Stening Simpson was appointed as our Specialised Risk Insurance Brokers in 1992 handling our entire worldwide insurance portfolio. Stening Simpson are the leading Surety Bond Brokers in Australasia.  They secured a substantial worldwide Surety Bond Facility for our operations which has had a positive impact on our business. We do not consider Stening Simpson as just a supplier instead they are an integral business partner that provides innovative services and a genuine commitment to the success of our company.  They have proved to be a company of exceptional integrity and extremely professional

John C

Stening Simpson
2020-10-21T17:39:05+11:00

John C

Stening Simpson was appointed as our Specialised Risk Insurance Brokers in 1992 handling our entire worldwide insurance portfolio. Stening Simpson are the leading Surety Bond Brokers in Australasia.  They secured a substantial worldwide Surety Bond Facility for our operations which has had a positive impact on our business. We do not consider Stening Simpson as just a supplier instead they are an integral business partner that provides innovative services and a genuine commitment to the success of our company.  They have proved to be a company of exceptional integrity and extremely professional
The Stening Simpson team have been valued clients of Australian Surety Corporation Pty Limited/AP Surety since our formation in 1994. We recognize them to be one of the most professional and highly reputable Specialised Risk Brokers on our books. We look forward to a long continuing working relationship with them.

Rodney R

Stening Simpson
2020-10-21T17:39:44+11:00

Rodney R

The Stening Simpson team have been valued clients of Australian Surety Corporation Pty Limited/AP Surety since our formation in 1994. We recognize them to be one of the most professional and highly reputable Specialised Risk Brokers on our books. We look forward to a long continuing working relationship with them.
We engaged Stening Simpson Group some 6 years ago. The longevity of this relationship being the product of their clear-thinking professional service.  They have always displayed an extensive and practical knowledge of their field with an eagerness to investigate and satisfy even our more obscure requirements which in the writer’s opinion is derived from the quality of staff whom Stening Simpson employ and the dedication of the Principals to obtaining the best result possible for the client. Stening Simpson could not be regarded more highly.

Scott I

Stening Simpson
2020-10-21T17:40:26+11:00

Scott I

We engaged Stening Simpson Group some 6 years ago. The longevity of this relationship being the product of their clear-thinking professional service.  They have always displayed an extensive and practical knowledge of their field with an eagerness to investigate and satisfy even our more obscure requirements which in the writer’s opinion is derived from the quality of staff whom Stening Simpson employ and the dedication of the Principals to obtaining the best result possible for the client. Stening Simpson could not be regarded more highly.
It is with great pleasure that I write to acknowledge our twenty five years association with the Stening Simpson Group.  Each year they review our insurance requirements and organise a full range of coverages for our company. This has always been done in a most competent and professional manner.  I thank all the staff of Stening Simpson whose diligent efforts on our behalf have made our association successful and enjoyable.

John L

Stening Simpson
2020-10-21T17:41:11+11:00

John L

It is with great pleasure that I write to acknowledge our twenty five years association with the Stening Simpson Group.  Each year they review our insurance requirements and organise a full range of coverages for our company. This has always been done in a most competent and professional manner.  I thank all the staff of Stening Simpson whose diligent efforts on our behalf have made our association successful and enjoyable.
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