Safire has been a trusted provider of surety bonds since 2006. Today, we have representation in all the country’s major commercial centres and annually issue guarantees amounting to billions of rands. We pride ourselves on our high service levels, and on understanding the unique requirements of our individual clients in this specialised area of insurance. We assist clients with lodging surety bonds throughout the country and obtaining certificates of appointment as a matter of urgency.
We are proud of our reputation as a leading insurer in this niche market, offering tailored solutions to liquidators, estate administrators, and other professionals.
Safire issues thousands of court bonds annually to liquidators across South Africa. Our unmatched facilities and experience in this specialist field have earned us a significant market share and the trust of the liquidation industry.
Curator bonds are offered to attorneys, liquidators and accountants administering the affairs and estates of incapacitated persons and minors, as well as where they have been appointed by the court to control assets seized under the Prevention of Organised Crime Act.
Executor bonds are offered to executors appointed to wind up deceased estates. Our capacity allows us to issue large bonds that many other providers cannot accommodate.
Trustee bonds are offered to trustees appointed to administer a trust, whether it be a testamentary trust, family trust or trust set up to receive a Road Accident Fund or medical negligence award on behalf of an incapacitated person.
Tutor bonds are offered to tutors who have been appointed by the court to take care of a minor and/or to administer the affairs of the minor.
A surety bond is a financial guarantee issued by an insurance company and furnished to the Master of the High Court. It ensures that the appointed individual carries out their duties responsibly and protects beneficiaries and creditors against financial loss resulting from that individual’s actions, negligence, or dishonesty while managing assets or fulfilling specific legal duties.
Surety bonds are commonly required for:
The requirement for a surety bond depends on the appointment conditions and applicable legislation.
The premium is the annual amount payable for a surety bond. It is calculated as a percentage of the total bond amount required and is determined by factors such as:
The premium is charged at a set rate prescribed by the Master of the High Court. As per the Master’s Directive, the premium rate for surety bonds are set at the following:
In most cases, a surety bond can be issued within 24 to 48 hours after all required documentation has been received and approved.
At Safire, we offer more than just a surety bond. We provide a dedicated team of experienced professionals who understand the unique requirements and challenges faced by appointees. Our long-serving staff members have built strong relationships with key stakeholders. This enables us to provide efficient service, practical guidance, and support throughout your appointment. Whether the bond is required for the appointment of an executor, trustee, curator, liquidator, or other appointee, our knowledgeable team is available to assist, and guide you through your surety bond requirements and related queries.
When you choose Safire, you choose experience, expertise, and service you can trust. You choose the best.
