Application Process
Application Process
Insurers assess applications for bond facilities on the information they are provided. RPS has performed this role on behalf of insurers for many years and we use this experience to our client’s advantage.
It is our role to present our clients business in the best light possible and we pride ourselves in achieving the best results possible i.e. lowest fees and best terms & conditions!
In order to so we require the following information: -
Corporate structure, shareholder details.
Financials (last 2 annual returns).
Current management reports up to last 6 months.
Copy of contract be bonded (draft acceptable).
Personal positions of directors/shareholders may be required (public companies excluded).
Credit reference report sourced externally (consent required).
Additional information may be required on a case by case basis.
Once the underwriting information above has been supplied we then complete a submission for presentation to a select panel of underwriters for consideration.
RPS then negotiates the best terms possible on a client’s behalf on a transparent basis. Apart from cost, we breakdown the terms and conditions of each facility offered and delete any potential ‘hooks’ in contract documentation in advance!
Finally, we liaise with the beneficiary to your contract and keep them informed along the way.
All up once the submission has been presented bond facilities should take no more than 10 working to days to complete.