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"Bru BVCB":2u7zszzb wrote: Its looking like the only option I have to to pay the bank a quaterly fee for having the bond.[/quote:2u7zszzb]That's certainly the suggestion here[/url:2u7zszzb].

We (Eight Degrees) get our bond and deferred payment guarantees from our bank - AIB. Yes - there are fees proportional to the amounts they are covering.

I've no experience of setting up a micro but I've some experience of companies in other areas setting up letters of credit and performance bonds for high risk ventures and my first thought was talking to your relationship banker rather than an insurer - which seems to be what the guys from 8 Degrees are saying as well.

Sorry for late reply I had the good fortune to be in Germany on Brewery Tours for the weekend.

Thanks for the replies. I will have a chat with AIB, I have the business account set up with them. I just got word from our broker that no insurance company will go near us until be have two years audited accounts. he has tried four companies and got the same reply off each.

Thanks for the help.