Surety Bond Scheme

Independent review of the surety bond scheme

The NSW Department of Justice has commissioned an independent review of the surety bond scheme. The review will commence shortly and is expected to last between six and eight weeks.

While the review is taking place, surety bond fee invoices will not be issued and no action will be taken to collect any outstanding surety bond fees. Surety bond applications will also be on hold during this time.

This page will be regularly updated with current information about the review.

 

Surety bond application process

How private managers apply for a surety bond

  1. We will send you a Private Managers Plan form as part of your information pack. It is also available to download from the Private Management Forms page. Complete and return this plan to us as the details you provide help us decide if a surety bond is required.
  2. If a surety bond is required, we will send you a letter of confirmation together with the surety bond application form to complete. The surety bond application form is also available to download at the bottom of this page. The decision for a surety bond takes a range of factors into account including the estate's liquid asset value, and the level of a private manager's indemnity insurance.
  3. When we receive your completed surety bond application form, we send information to the surety bond company Willis Towers Watson. They will issue an invoice for the surety bond fee, which you can pay from the managed person's estate. You pay the fee to Willis Towers Watson - it is not NSW Trustee & Guardian's fee.

If there is a change in private manager the new private manager will have to complete a new surety bond application form.

Further information about surety bonds

You can find out more about surety bonds on the Surety Bond Further Information page.

Information is also available from the surety bond company Willis Towers Watson including Terms of the Surety Bond and Surety Bond Important Information.