A QUICK GUIDE TO BOND REGISTRATIONS

Step 1	Receipt of instructions from the Bank
Receipt of instructions from the Bank to register the bond. Usually the instructions are received electronically.					Contact the client to confirm receipt of the instructions and request any documents required.
Step 2	Preparation of Documents
If a transfer is involved – request a flysheet from the Transferring Attorney, guarantee requirements and relevant FICA documents from client.			Obtain a Deeds Office printout for the property and the client to check for any interdicts, insolvencies or other caveats that may be registered against the client or the property.					If a further advance is involved, obtain the Title Deed from the Bank and prepare the bond documents for signature.
Step 3	Signature of Documents
On receipt of the flysheet and other documents, prepare the bond documents for signature.					Contact the client and arrange for signature of the documents and payment of costs.
Step 4	Guarantees and FICA
Advise the Transferring Attorneys that the bond documents have been signed. Send guarantee, if requested, or advise of the amount available under the Bond. Advise of position to lodge upon request or advise the Transferring Attorney of what is preventing lodgement.							Comply with any the Bank’s pre-lodgment requirements and check FICA compliance.
Step 5	Lodgement of Bond documents
If a further bond is involved, proceed with lodgment. If a Transfer is involved, lodge on request of the Transferring Attorney.		The Deeds take 7 – 10 working days to be examined in the Deeds Office before they come up for registration. The conveyancer has 5 working days to finalize any outstanding requirements and hand in for registration the next day.				If a further Bond is involved, the bond is normally handed in for registration and registered on the following day. If a Transfer is involved, then the Transferring and Bond Attorneys arrange the date of registration.
Step 6	Registration
On the day of registration, the Bond Attorney arranges with the Bank to have the bond proceeds paid and registers the bond with the other linked transactions.				The Transferring Attorney will present the guarantee for payment after registration has taken place if this has not been done electronically. The Bank and Client are advised of registration					In the case of a further Bond, the Bond proceeds are paid to the Client in terms of his payment instructions.
Step 7	Delivery of Bond Documents
Once the Bond has been registered, numbered, captured in the Deeds Registration System and scanned, it is delivered to the Bond Attorney by the Deeds Office. This can take up to 3 months.					The Bond Attorneys then obtains the Title Deed from the Transferring Attorney, if applicable, and delivers the Title Deed, bond and other security documents to the Bank.