Completely digital
End-to-end online workflows - no paper, no postage - reducing time, risk, and environmental impact.
Bank Guarantee for Tenders
Show commitment, protect working capital, and meet bid timelines
Tender guarantees are time-boxed, on-demand instruments that support credibility during procurement. Issue them digitally for faster acceptance, instant verification, and audit-ready logs.
Our Network
Features and Benefits
MyGuarantee offers secure, cost-effective and sustainable digital bank guarantees through an efficient and responsive application process - delivering speed, transparency, accuracy and security.
Fast
Digital requests and confirmation with beneficiaries
Cash Secured
Cash secured with Perpetual and AMP
No Fees
No application fee and no recurring fees
Key Features
Everything you need to deliver a complete MyGuarantee experience.
Same-day processing
Once onboarding is complete, guarantees can be created, approved and activated in hours.
Secure against fraud
Bank-grade encryption, verification, and role-based access controls across every action.
Live tracking
Real-time status from application to issuance, amendments and cancellation.
Reporting
Customisable reports for audit and operations.
Real-time updates
Instant email and dashboard notifications on status changes and required actions.
Full transparency
Clear visibility over every step to build trust with applicants and beneficiaries.
Documents dashboard
Single place to view, manage and download digital guarantees and related files.
Visible audit trail
Immutable, time-stamped logs of changes and approvals - auditor-ready, always.
Why tender guarantees exist
Principals need confidence that shortlisted bidders are serious and solvent. A bank guarantee provides that assurance without requiring an upfront cash deposit — protecting your working capital during the procurement stage.
When you win and move to contract execution, the tender guarantee often lapses or is replaced by a performance/payment guarantee. See types of bank guarantees.
Faster acceptance
No courier loops or branch checks. Beneficiaries verify authenticity online: verify online.
Lower admin risk
A single, authoritative digital version with timestamps and audit logs — no lost originals or version confusion. Compare digital vs paper.
Portfolio-friendly
Track multiple bids in one place with alerts and renewals control. Explore the digital platform.
What principals look for
Correct parties (exact legal names, ABN/ACN, addresses), on-demand wording aligned with procurement rules and governing law, the validity period (usually through evaluation and award), and a recognised issuer with a verifiable format.
See requirements in Australia and our wording template for useful drafting patterns.
Checklist to prepare
- • ABN/ACN, exact legal names and addresses for applicant & principal
- • Procurement pack wording, governing law, and presentation rules
- • Amount and validity period
- • Financial statements and identity documents
- • Funds ready for issuance
Follow this flow
- Apply online: application
- Track status in the platform
- Share verification link with the principal
- Amend or cancel digitally if tender terms change
Common questions on tender guarantees
What is a tender or bid bank guarantee?
A tender (bid) bank guarantee shows the procuring entity that you’re a credible bidder who can enter and perform the contract if awarded. It’s usually on-demand in favour of the principal. Learn the basics: what is a bank guarantee.
What wording do principals expect?
Match the procurement pack. Key elements typically include on-demand phrasing, correct legal names and addresses, governing law and presentation rules, the amount, and a validity period (often to award or contract execution). See requirements in Australia.
How fast can I get a tender guarantee?
With onboarding completed and wording agreed, digital issuance can complete the same business day. Checklist: same-day digital bank guarantee.
Will government and enterprise accept digital?
Yes. Acceptance depends on wording and issuer, not whether it’s paper. Share: digital vs paper comparison and beneficiary verification.
What does it cost and who pays?
Fees vary by amount and term. Applicants typically pay bank and platform fees. See bank guarantee fees and no application fee.
Ready to bid with confidence?
Issue your tender guarantee digitally, get instant verification, and keep momentum through evaluation and award.
Book a short demo or apply now to meet bid timelines without tying up cash.
Book a demo today!Related: contractors guide · same-day issuance · online issuance · digital vs paper · fees