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Changes to ANZ Terms and Conditions

For changes effective on and from 17 November 2025

For changes effective on and from 07 January 2026

 

ANZ Business Banking

 
Section Change

Using your cash cover indemnity guarantee facility

Page: 2

Replace the existing section with the following:

To request the Bank Guarantee under your Facility, you must sign a copy of the Bank Guarantee you are requesting. ANZ will consider your request and if accepted, we will issue the Bank Guarantee in our standard form unless we agree otherwise (acting reasonably).

What happens if a favouree makes a demand on a bank guarantee issued by ANZ?

Page: 3

Replace the existing section with the following:

If a named favouree makes a compliant demand on a Bank Guarantee, ANZ will debit from the IG Facility Account an amount equal to the amount demanded and pay the favouree that amount without notifying you beforehand.

What happens if ANZ terminates a bank guarantee that it has issued?

Page: 3

Replace the existing section with the following:

ANZ may terminate a Bank Guarantee at its reasonable discretion. If ANZ chooses to do this, ANZ may debit from the IG Facility Account an amount reasonably considered by ANZ to be equal to the amount that the favouree could claim from ANZ under the Bank Guarantee and pay the named favouree that amount.

Section 1: Indemnity Guarantee Facility

1.2 Conditions Precedent

Page: 6

Replace the existing section with the following:

ANZ’s obligation to make the Indemnity Guarantee Facility (the “IG Facility” or “Facility”) available to you is conditional upon ANZ being reasonably satisfied that:

  • ANZ has received a copy of the bank guarantee you are requesting, signed by you (“Bank Guarantee”). If you do not want ANZ to issue the Bank Guarantee in its standard form, you also need to provide ANZ with a form of bank guarantee which is acceptable to ANZ, acting reasonably, with details completed and signed by you to confirm content; and
  • all the other conditions precedent (if any) have been fulfilled.

1.7 Cancellation of the IG Facility

Page: 8

Replace the existing section with the following:

You may, at any time, cancel the IG Facility by returning the original of the Bank Guarantee issued under this IG Facility to ANZ and paying any unpaid fees and other amounts in relation to the Bank Guarantee. If you do so, you authorise us to cancel your Facility in full.

ANZ may at its reasonable discretion cancel a Bank Guarantee and/or the IG Facility by debiting from the IG Facility Account (as defined in clause 2) an amount reasonably considered by ANZ to be equal to the amount that the favouree could claim from ANZ under the Bank Guarantee and paying the named favouree that amount.

New clause

1.8 Demand

Page: 8

Insert new clause:

1.8 Demand

If a named favouree makes a compliant demand on a Bank Guarantee:

(a) the amount demanded, as well as all fees and other charges owing in relation to the Bank Guarantee, become immediately due and payable by you; and

(b) ANZ may pay the named favouree an amount equal to the amount demanded.

Section 2: IG Facility Account

2.3 Authority to appropriate and set-off

Page: 10

Replace the first sentence with the following:

In the event that:

(a) demand is made on ANZ for payment under any Bank Guarantee issued under the IG Facility or ANZ reasonably apprehends that such demand will be made; or

(b) ANZ cancels the IG Facility in accordance with clause 1.7; or

(c) you go into administration, liquidation, receivership or commit an act of bankruptcy,

you irrevocably authorise ANZ at any time to apply all or any part of any credit balance in your IG Facility Account (“IG Facility Account Balance”) up to the total value of the Bank Guarantee issued under the IG Facility:

(a) by way of set-off against; or

(b) in towards payment of,

the amount paid, or payable, by ANZ under the Bank Guarantee.

Section 3: General

3.2 Changes we can make to the Terms and Conditions

Page: 13

Replace the first paragraph with the following:

Sometimes we may need to change these Terms and Conditions. The tables in sections (a), (b) and (c) below set out the changes that we can make, acting reasonably, from time to time without your agreement.

 

Amend the title of subparagraph (d) as follows:

(d) What are your rights if we change the terms and conditions?

3.4 Banking Code of Practice

Page: 17

 

Replace the existing section with the following:

The Banking Code of Practice means the relevant version of the industry code published from time to time by the Australian Banking Association as it applies to ANZ.

If you are an individual or a small business (as defined in the Banking Code of Practice) ANZ is bound by the Banking Code of Practice when it provides banking services to you.

Where the Banking Code of Practice applies, it will prevail over this Agreement to the extent of any inconsistency.

3.9 Notices

Page: 22

Replace the first three paragraphs with the following:

Formal communications between us are called notices.

A payment demand notice that ANZ gives to you in connection with the IG Facility will be signed by one of our bank managers, bank officers, by our solicitors or by any agent authorised by ANZ. Any other form of notice need not be signed, unless the law requires it.

ANZ may give you a notice by:

(i) leaving it at your address;

(ii) by posting it in a prepaid envelope addressed to you; or

(iii) where expressly allowed by the IG Facility Transaction Documents, by press advertisement.

 

The notice will be deemed to have been received by you:

(i) if ANZ leaves it at your address, when left;

(ii) if ANZ posts it, on the date it would have been delivered in the ordinary course of post; or

(iii) if given by publishing it by press advertisement, when it is first published .

3.11 Inconsistency

Page: 23

Replace the existing section with the following:

If there is any inconsistency between the Confirmation Letter, these IG Facility terms and the IG Facility Account terms and conditions then the prevailing terms shall be determined in the following order:

(a) First, the Confirmation Letter,

(b) Second, the IG Facility terms and conditions, and

(c) third, the IG Facility Account terms and conditions.

If there is an inconsistency between this agreement and a security, this agreement prevails.

Administrative

Throughout booklet

Additional minor administrative updates and amendments, including updating section numbers.
 
Section Change

Title page

Page: 1

 

Replace title with the following:

Indemnity Guarantee Facility

Key Terms

Using your Indemnity Guarantee Facility

Page: 2

Replace the existing section with the following:

Your first request for a bank guarantee under the Facility must be made within six months of the date of your Letter of Offer. To request a bank guarantee under your Facility, you must sign a copy of the bank guarantee you are requesting. ANZ will consider your request and if accepted, we will issue all bank guarantees in our standard form unless we agree otherwise (acting reasonably).

What happens if a favouree makes a demand on a bank guarantee issued by ANZ?

Page: 2

Replace the existing section with the following:

If a named favouree makes a compliant demand on a bank guarantee, the amount demanded by the favouree and all fees and other charges owing in relation to the bank guarantee become immediately due and payable by you, and ANZ may pay the favouree that amount without notifying you beforehand. The details on what you must pay and how you must pay are set out in clause 9. A demand by a favouree is also a Review Event under the Finance Conditions of Use.

What happens if ANZ terminates a bank guarantee that it has issued?

Page: 2

Replace the existing section with the following:

ANZ may terminate a bank guarantee at its reasonable discretion. If ANZ chooses to do this, the amount claimable and all fees and other charges owing in relation to the bank guarantee become immediately due and payable by you. The details on what you must pay and how you must pay are set out in clause 9. ANZ may pay the named favouree an amount reasonably considered by ANZ to be equal to the amount that the favouree could claim from ANZ under the bank guarantee.

Section 3

Using your indemnity guarantee facility and requesting a bank guarantee

Page: 3

Replace the existing section with the following:

You may use your Facility once we tell you that the relevant terms in your Letter of Offer have been met.

To request a bank guarantee under your Facility, you must sign a copy of the bank guarantee you are requesting.

We will issue all bank guarantees in our standard form unless we agree otherwise (acting reasonably). If you would like another form please provide us with a copy of the proposed form.

Your first request for a bank guarantee must be within six months of the date of your Letter of Offer.

Section 7

What happens if a favouree makes a demand on a bank guarantee issued by ANZ?

Page: 4

 

Replace the existing section with the following:

If a named favouree makes a compliant demand on a bank guarantee:

(a) the amount demanded, as well all fees and other charges owing in relation to the bank guarantee, become immediately due and payable by you; and

(b) ANZ may pay the named favouree an amount equal to the amount demanded.

A demand made on a bank guarantee will also constitute a Review Event and the consequences of a Review Event will apply. Please refer to the Finance Conditions of Use for more information.

Section 8

What happens if ANZ terminates a bank guarantee that it has issued?

Page: 5

Replace the existing section with the following:

ANZ may terminate a bank guarantee at its reasonable discretion. If ANZ chooses to terminate the bank guarantee:

(a) the amount claimable and all fees and other charges owing in relation to the bank guarantee become immediately due and payable by you; and

(b) ANZ may pay the named favouree an amount reasonably considered by ANZ to be equal to the amount that the favouree could claim from ANZ under the bank guarantee.

 

 
Section Change

New clause 4.9

Page: 5

 

Insert new clause:

4.9 ANZ can close your Facility

If all of the Outstanding Money for your Facility has been repaid in full, including any other amounts owing under your Agreement, you consent to ANZ closing that Facility, including where it is in credit. Where we do this, we will pay any credit balance to your nominated account, contact you to obtain account details for this payment or pay you the amount via bank cheque.

Administrative

Throughout booklet

Additional minor administrative updates and amendments, including updating section numbers.
 
Section Change

Closing your ANZ account

Section: Closing your ANZ account

Page: 11

Replace the existing fourth paragraph with the following:

ANZ may exercise its reasonable discretion to close an account due to unsatisfactory conduct or for any other reason it reasonably considers appropriate. In this event, where there are outstanding bank guarantees, ANZ will pay the favouree and apply the credit balance in your account towards payment of that liability. Where there are no outstanding bank guarantees, you consent to ANZ closing your account, including where it is in credit. ANZ will forward a bank cheque for the net credit balance of the account. ANZ will notify you in writing at the address shown on our records when it does this.

Personal advice on business accounts

Section: Personal advice on business accounts

Page: 15

Replace the title with the following:

Provision of information relating to business accounts

 

Replace the existing subsection with the following:

Any ANZ employee who provided information to you in connection with a product to which these terms and conditions apply is a salaried representative of ANZ. In addition to their salary, they may also be eligible to receive an individual reward based on their overall role performance. Individual rewards may vary based on demonstration of ANZ Values (including acceptable behaviours), performance against a balanced scorecard of measures (incorporating Customer, Financial, Risk/Process and People), business unit/divisional performance and ANZ overall performance.
 
Section Change

Administrative

Throughout booklet

Deletion of references to ® throughout booklet

Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you.

ANZ recommends you read the applicable Terms and Conditions and the ANZ Financial Services Guide (PDF) before acquiring the product.

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