Trustee bond relate to special trusts.
Trustees are appointed in terms of a court order, a Trustee administer the financial affairs of the recipient of the pay-out.
Trusts are generally administered by trust companies. These companies includes banks, trust companies, attorneys and accountants, for instance. While the companies will have a nominated trustee appointed, the administrative duties of the trustee are generally undertaken by a team within the trust company.
The Master of the High Court sets the rates and for a Trustee Bond. The Annual rate is 0.6% of the Bond amount + VAT.
The application for a facility is a once of process and we can then issue the security within 24 hours.
August 17, 2020