BondCover is underwritten by Insurance Australia Limited ACN 000 016 722 (IAL) and is issued and managed by Snug Financial Services Pty Ltd ABN 12 621 050 682 (Snug), as agent for IAL (collectively, we, our or us).
Together, your BondCover Certificate and these terms and conditions are your contract with us.
All correspondence and enquiries regarding Snug BondCover should be directed to:
Snug Technologies Pty Ltd
Level 1, 388 George St, Sydney, NSW 2000
Tel: (+61) 1300 147 684
BondCover is offered in all Australian States and territories where it is permitted.
|Amount of Claim||Time for Payment|
|Up to and including $500||2 business days|
|More than $500||5 business days|
In these BondCover terms and conditions, unless the context requires otherwise, where capitalised, the following words have the following meanings and a reference to the singular includes the plural and vice versa:
Act means the legislation governing Leases in the State or Territory in which the Leased Property is situated, all regulations made pursuant to that legislation and any statutory instrument which replaces or supersedes that legislation or regulation.
BondCover Fees means the fees and other charges that Snug requires you to pay in respect of BondCover.
Bond Amount means the amount shown in the BondCover Certificate.
Bond Claim means an amount that the Lessor is entitled to claim from the Tenant/s in relation to the Leased Property under the terms of the Lease or the Act.
Bond Refund Form means the form that the Rental Bond Authority in the State or Territory in which the Leased Property is situated requires in order to release a Rental Bond to a Property Manager or Tenant.
Claim Amount means the amount we pay to a Lessor in respect of a Bond Claim.
Claim Determination means the amount that we determine should be paid in respect of a Bond Claim.
Claim Settlement means the amount a Tribunal determines is payable in respect of a Bond Claim.
Cover Period means the period nominated as the ‘Cover Period’ on the BondCover Certificate.
Lease means the residential tenancy agreement in place in relation to the Leased Property.
Leased Property means the property nominated as the ‘Leased Property’ on the BondCover Certificate occupied by the Tenant and under lease from the Lessor.
Lessor means the person nominated as the ‘Lessor’ on the BondCover Certificate.
Property Manager means the Lessor or a person or company that the Lessor has authorised to manage the Leased Property on the Lessor’s behalf and nominated as the ‘Property Manager’ on the BondCover Certificate.
Recovery Action means a demand, claim, legal proceedings or other action of any type that we bring against the Tenant/s in the Lessor’s name in respect of any amount we pay to the Lessor in respect of a Bond Claim.
Rental Bond Authority means the body responsible for holding rental Bonds in the State or Territory in which the Leased Property is situated.
Tenant/s means the person or persons nominated as the ‘Tenant’ on the BondCover Certificate.
Tribunal Order means an order of the body responsible for determining Bond Claims in the State or Territory in which the Leased Property is situated, which sets out the amount the Tenant/s is required to pay to the Lessor in respect of a Bond Claim.
Tenant: [Firstname and Surname]
Leased Property: Unit #, Street Address, Suburb, State Postcode
Cover Period: dd-mmm-yy and dd-mmm-yy
Lessor: [Owner or Property Manager's name]
The Tenant/s and the Lessor agree following special conditions apply to the residential tenancy agreement, the particulars of which are set out above (Lease):
The Tenant/s may elect to provide a guarantee (BondCover) instead of a Rental Bond. If the Lessor agrees to accept a guarantee:
In this special condition, regardless of the term used to describe it in the Lease, Rental Bond means the amount that the Lessor may require the Tenant/s to pay as security for the Tenant/s’s obligations under the terms of a residential tenancy agreement under the law relating to residential tenancies in the State or Territory in which the Leased Property is situated.
Signed: Lessor/Lessor's Property Manager:
Terms Updated: Wed 8 Aug 2018, 14:00PM
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