Curator Bonds

All Curators are required to furnish security to the satisfaction of the Master of the High Court, often in the form of curator bonds. These bonds, including curator bonis bonds relating to incapacitated individuals, help protect potential fiduciary liability. Curators require surety bonds to guarantee their undertakings to the Master, ensuring proper asset management. The provision of suretyship is not an indemnity policy but rather an accessory agreement by which the surety binds itself to the Master for the Curator's performance whilst in office. This service covers curator bonds of all sizes, even the largest of bonds in the market. As with all suretyships, should the principal debtor (Curator) default and the surety have to make good any loss arising from such default, the surety has a right of recourse against the Curator for that amount that it has paid to the Master, underscoring the importance of understanding the specific responsibilities involved in curatorship.

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Curator bonds in South Africa are provided via leading local insurance companies and may be lodged by us with the Master of the High Court on your behalf should you require us to do so. At Shackleton Risk we have representatives in every province to offer administration support to our clients for the duration of the bond.

What you will require to obtain a curator bond through us:

Non-professional Curator

An approved application for joint facility
Master's Form J262 (Undertaking)
Copy of your ID
Copy of person under curatorship's ID
Inventory or Court order (as the case may be)
Master's Form J197 (Application for appointment as Curator)
Details of the professional who will be assisting you with the administration of the person under curatorship's estate
An Undertaking from the professional to notify us if his/ her mandate has been terminated by you; and
A Suretyship by the professional guaranteeing your performance jointly with the surety to the Master of the High Court.

Professional Curator

An approved application for facility
Master's Form J262 (Undertaking)
Copy of your ID
Copy of person under curatorship's ID
Inventory or Court order (as the case may be)
Master's Form J197 (Application for appointment as Curator)
Proof of Professional Indemnity Insurance.

Surety bond premiums for Curator bonds are set by the Master of the High Court. The premium is an annual premium of 0.6% plus VAT on the asset value of the estate, which shall renew annually until the estate has been finalised.

For more information about curator bonds or to set up a consultation, please contact your local broker:

Cape Town