Surety Bond Scheme

Cancellation of the Surety Bond Scheme

The NSW Civil & Administrative Tribunal (NCAT) recently held that NSW Trustee & Guardian could not require a private manager to purchase a Surety Bond without NCAT or the Supreme Court requiring the manager to give security. NSW Trustee & Guardian is not appealing this decision. The Surety Bond Scheme has now ceased operation. 

NSW Trustee & Guardian has made payments to all private managers who had paid surety bond invoices. 

NSW Trustee & Guardian would like to apologise for any inconvenience and stress caused by the introduction of the Surety Bond Scheme found by NCAT to be without power. We have written to all affected private managers to inform them of our decision.

A review of the scheme has been undertaken by KPMG.  As an organisation, we will study the report’s findings and consider implementing any recommended service delivery improvements.

Further information
If you have any questions about the Surety Bond Scheme, not covered in the information above, email or call your client service team.