Performance Bank Guarantee
Backed by AMP Bank—ensure delivery and accountability on complex projects with a fast, fully digital performance guarantee.
Delivering Confidence in Every Project
In industries where projects are complex, costly, and high-stakes—such as construction, infrastructure, and major service contracts—trust is everything. Employers, contractors, and clients need certainty that commitments will be honoured, not just promised.
That’s where the Performance Bank Guarantee comes in. It serves as a safety net for project owners, ensuring contractors deliver on their obligations. If performance falls short, the beneficiary can claim against the guarantee, reducing risk and protecting investments.
With MyGuarantee, backed by AMP Bank, this process has finally entered the digital age—removing inefficiencies and making performance guarantees more secure, transparent, and accessible.
Why Performance Guarantees Matter
For project owners, a performance guarantee is more than a financial safeguard—it’s a tool that drives accountability. It helps ensure contractors complete projects to specification, within budget, and on schedule.
For contractors, it strengthens credibility by showing clients they are backed by a trusted financial institution—a clear signal of reliability and financial discipline.
The Digital Upgrade with MyGuarantee
Performance guarantees have traditionally been paper-heavy and slow-moving. MyGuarantee reshapes the experience with:
- Seamless Issuance & Amendments – Create and adjust guarantees in minutes, not weeks.
- Real-Time Transparency – Beneficiaries can log in and confirm details instantly.
- Tailored Terms – Set expiry dates aligned to project timelines or leave them open-ended.
- Audit & Compliance Trail – Every action is logged for oversight, reporting, and dispute prevention.
- Security First – Role-based permissions protect sensitive project and financial information.
How It Works in Practice
- A contractor secures a major infrastructure project.
- Through MyGuarantee, they create a Performance Bank Guarantee and assign it to the project owner.
- Once the project owner verifies and approves it, the guarantee is activated and visible to both parties.
- If the contractor delivers successfully, the guarantee is released at project completion.
- If issues arise, the project owner can claim on a legally enforceable guarantee, with verification and payout managed securely by MyGuarantee.
Benefits to the Industry
- Project Owners gain confidence that contractors are financially backed and accountable.
- Contractors build trust and stand out in competitive tenders with guarantees that are easier and faster to issue.
- Suppliers & Subcontractors benefit from greater stability and assurance across the project’s financial ecosystem.
Building Trust Through Technology
A Performance Bank Guarantee is about ensuring delivery. With MyGuarantee, that assurance is faster, more transparent, and fully digital—giving project owners and contractors the confidence to work together on ambitious ventures. The result? Stronger partnerships, smoother projects, and fewer disputes—all supported by a trusted, paperless guarantee system.