FAQs

Find answers to common questions

Whether you're wondering about our products or processes, you'll get quick, clear answers here.

Construction Guarantees

A Performance Guarantee is usually 5% or 10% of the contract value. Get a personalised premium estimate for your guarantee in seconds.

  • PCBS prepares a guarantee quote within 24 to 48 hours of you submitting the required documents.  
  • A draft guarantee is ready 24 to 48 hours after you’ve submitted the required documents. 
  • An original guarantee is issued 24 hours after receipt of your proof of payment. 

The most common Construction Guarantees are Performance Guarantees, Retention Guarantees and Advance Payment Guarantees.  

  • Performance Guarantee: a contractor’s financial commitment to meet defined performance standards. 
  • Retention Guarantee: financial protection against defective work for a certain period after project competition.  
  • Advance Payment Guarantee: ensures the project owner is reimbursed if the contractor fails to perform after receiving an upfront payment. 

The minimum premium for a PCBS guarantee is R5 000.00 (excluding VAT and fees).  

The minimum guarantee policy period is 6 months, and the maximum period is 36 months (including a maximum maintenance period of 12 months).  

Yes, we’re a licenced Financial Services Provider (FSP #47996) and are authorised to issue Construction Guarantees.  

Absolutely. We work with first-time applicants and seasoned contractors alike. 

Customs Bonds

Importers, exporters, customs clearing agents and bonded warehouse operators require Customs Bonds to comply with the South African Revenue Service’s (SARS) customs regulations and the payment of duties and taxes. 

Customs bonds eliminate the need for upfront payments of taxes and duties, improving cash flow for importers, exporters, customs clearing agents and bonded warehouse operators, while guaranteeing payment to SARS. A tax deferment operates much like a credit facility.  

PCBS requires the following documents for Customs Bonds applications: 

  • Last 2 years’ audited financial statements (or draft financial statements) 
  • Latest management accounts 
  • Debtors age analysis 
  • 3 Months’ statement of account with relevant authority 
  • 3 Months’ bank statements 
  • Personal statements of assets and liabilities 
  • Company registration and tax clearance certificates 
  • Company/group organogram reflecting shareholding structure 
  • ID copies for all members 
  • All business insurance schedules 
  • Company profile 
  • Bond history  

Yes. PCBS is a licensed Financial Services Provider (FSP #47996) and authorised to underwrite Customs Bonds.

Bond durations vary based on bond type. Temporary Bonds (like Temporary Importation) may cover a few months, while others (like Warehouse Bonds or Agent’s Bonds) can be issued on an annual or multi-year basis.

Yes. Customs authorities require bonds to be backed by financially sound applicants. You’ll need to provide basic company financials and related documents during the application.

Fuel Guarantees

Fuel Guarantees allow fuel retailers or wholesalers to purchase fuel on credit, while protecting suppliers against the financial risks associated with this practice.  

Petrol station owners, fuel wholesalers and distributors, transport and logistic fleets, and mining and agricultural businesses need Fuel Guarantees to avoid upfront cash payments for fuel.  

Securing a PCBS Fuel Guarantee involves 3 basic steps: 

  1. You apply for a Fuel Guarantee Facility (including submitting documents such as application form, financial statements, tax clearance certificate, list of personal assets and liabilities, and ID copies).
  2. We assess your creditworthiness, business history and risk profile to calculate your guarantee limit.  
  3. If you’re approved, we issue a guarantee to the fuel supplier. You can then purchase fuel on credit.  

Yes. PCBS is a licensed Financial Services Provider (FSP #47996), authorised to issue fuel-related financial guarantees.

Wholesale guarantees are designed for bulk fuel purchases between suppliers and distributors. Retail guarantees apply to service stations or smaller fuel outlets managing regular deliveries.

The guarantee is activated, and PCBS compensates the supplier up to the guaranteed amount, subject to the terms.

Court Bonds

A Court Bond’s main purpose is to ensure that a person appointed to act in a fiduciary capacity performs their duties honestly, competently and according to the law. 

Executor Bonds are needed for the administration of estates, Curator Bonds are required when someone is appointed to manage the affairs of individuals incapable of doing so themselves and Trustee Bonds are needed for the administration of settlement funds.

Claims can be made against a Court Bond if the following occur: mismanagement of funds or assets under custodianship, fraud or dishonesty, negligence, or failure to comply with court orders or fiduciary duties.  

If you’ve been appointed by a court as a trustee, executor or curator, you may be required to post a bond to legally assume the role. The court will typically indicate this in the appointment documentation.

A Trustee Bond guarantees that the appointed trustee will manage the trust’s assets and obligations according to the terms of the trust and the law.

A Curator Bond protects the interests of a minor, incapacitated person or someone unable to manage their own affairs, by ensuring the curator manages their estate responsibly.

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