Deed of Covenant & Assurance (QBCC)

1. Get your Documents

Your accountant will have already prepared the financial documents required to support your application to the QBCC and have determined the ‘defined amount’ needed to meet the minimum financial requirements. Your accountant will also prepare, for you as the covenantor, a personal statement of financial position. Once you have all those documents you need to read them yourself carefully, and ensure they are correct. They should consist of;

1. A Minimum Financial Requirements Report, or MFR (this is prepared by your Accountant and we have no involvement in its preparation, nor do we review or check the document is correct, and complies with the QBCC requirements).

2. A Covenantor's Statement of Financial Position (this is prepared by your Accountant and we have no involvement in its preparation, nor do we review or check the document is correct, and complies with the QBCC requirements).

3. A draft Deed of Covenant & Assurance (this is a proforma published by the QBCC), which needs completing with your details and the 'defined amount' calculated by your Accountant. If you do not have one, it can be downloaded from the QBCC website here.

TIP: If you do not have an Accountant that prepares MFR's or Statements of Financial Position for the purposes or compliance with the QBCC, we can refer you to some if you get in touch.