The SATSA Bond, which refers to the SATSA Lost Advances Fund, is administered by a committee and aims to deal with losses incurred by any member or customer as a result of that member being placed under involuntary liquidation.
The SATSA Lost Advances Fund Committee is responsible for the adjudication of payments and claims and these are done at their sole discretion.
- Payments shall not exceed R150 000 for any one incident.
- The same amount, R150 000, is available per any one member’s involuntary insolvency.
- The maximum amount available for the annum is R930 000.
- The SATSA Bond is administered by Guardrisk Insurance Company Limited under policy number GR13/40920/671/01.
Any claims against the SATSA Bond must be brought to the attention of the SATSA Chief Operating Officer by directing an email to firstname.lastname@example.org