Tutor Bond

A tutor bond guarantees proper guardianship of a minor by their tutor.

What is a tutor?

A Tutor is appointed by the court or through a Will to administer the property of a minor, or to take care of a minor, who no longer has a natural guardian.

Frequently Asked Questions

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How do the claims work?

The only party that may call up a Tutor Bond is the Master of the High Court. As with all suretyships, should the Tutor default then the Surety will be called up & the Insurer will make good any loss arising from the default.

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How much does a Tutor Bond cost?

Both the rate & the wording of the bond are set by the Master of the High Court. Currently the annual rate on Tutor  Bonds is 0,6% (excl. VAT) on the asset value of the estate.

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Can premiums be paid monthly?

No, the Master of the High Court has set this as an annual rate. All Tutor Bond premiums are paid annually. Renewable annually until no longer required by the Master of the High Court.

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How can I avoid a Tutor Bond claim?

Claims can easily be avoided through:

  • Diligent, honest & fair administration of the Estate. 
  • Delivering best practices in your industry.
  • Keeping abreast of regulations and legislation.
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How do the claims work?

  • An approved application for joint facility
  • Birth certificate of the minor
  • Your ID
  • The Last Will and Testament in which the
  • Tutor has been nominated (where applicable)
  • Court order (where applicable)
  • Proof of application to the Master
  • Master’s form J243 (Inventory)
  • Nomination of you as the suitable person to be appointed as Tutor by the next-of-kin of the minor (these nominations are usually obtained during a meeting convened by the Master for this purpose)
  • Master’s form J262 (Undertaking)
  • Master’s form J197 (Application for appointment as Tutor)
  • Proof of Professional Indemnity Insurance, or details of the professional who will be assisting you with an undertaking to notify the insurer should their mandate be terminated & a suretyship guaranteeing your performance jointly.
 

Why Choose Us

With our comprehensive offering, we provide appropriate and affordable Surety Bonds for professionals in their respective fields.

As a professional, you need an insurance partner who understands your business risks. Our experienced risk professionals offer expert advice, friendly service and bonds at competitive rates.

How to Get Covered

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Step 1

Complete the short questionnaire and provide us with any relevant details regarding the bond you require.  

Step 2

One of our expert risk professionals will call you to discuss the cover available for you and provide you with any advice you might need. 

Step 3

We'll provide you with a simple, hasslefree quotation for your consideration. 

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Step 4

Send us you quote acceptance form and we'll get your bond issued within 24 hours. 

Ready to get started?

Simply complete a short questionnaire. Our expert advisers will get in touch to discuss your options.

 

Explore Our Other Surety Bonds

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Bonds

Executor
Bond

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Bonds

Trustee
Bond

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Learn more about Surety Bonds

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Trustee Bonds – What happens when a Trustee resigns?

How are Trustee Bonds affected if a trustee resigns or dies? When a trustee resigns or dies and there are trustee bonds in place, their name will need to be deleted from the Letters of Authority by the Master. The master will require: A written resignation from the...

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When is a Tutor appointed?

When is a Tutor appointed?

A tutor will be appointed over the estate of a minor (a person under the age of 18 years) if necessary. The law does not regard a minor as capable of managing their own affairs & they are therefore under disability. Under normal circumstances, the parents of the...

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How do bond claims work?

How do bond claims work?

Bond claims area investigated when it is suspected an estate has suffered a loss due to the actions of the the incumbent named on the bond. On completion of the investigation, the Master must be notified of any potential bond claims and the loss allegedly suffered...

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