I applied for a bond with FNB through BetterBond earlier in this year. A bond of 90% was approved by FNB, all paperwork signed, and the attorneys started with the process of registering the bond. FNB then lost the application and caused more than a month delay. With the bond almost registered, FNB turned around and amended the bond to 80%. This means that an additional deposit of R70, 000 needs to be paid to them. At first their excuse was that the registration process took too long, at which point we pointed out that they were the cause of the delay. They simply turned around and changed their reason why the terms are being changed, and said that this is because the independent trustees on my trust needs to sign surety ship. The independent trustees is a legal firm with absolutely no financial interest in the trust, and this is a very well know and general way of running a trust. FNB had no idea about this, and are sticking with their second story that they are not allowed to give the loan without surety ship. Which by the way was not agreed to in the original application. BetterBond, F. Valley Attorneys as well as Boshoff Inc Attorneys have all tried to explain the situation to no
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