Trustbond manager Will Soutar penned an open letter to the territory's government after its legislative freeze on commercial rental bond guarantors.

In the letter, Mr Soutar hoped to clarify the product and put them "back on a progressive path to giving the people of ACT a choice".

"We just wanted to get our side out there, we believe there is value for customers," Mr Soutar said to the Canberra Times.

"We also incorporated a lot of the consumer protections into our products."

Last year, the ACT government passed amendments to legalise bond guarantees allowing renters to pay a third-party for a commercial guarantee instead of lodging a cash rental bond.

But this month the government froze the legislation as part of housing reforms.

ACT Tenants Union's Deb Pippen said they still had concerns about the legislation, fearing  renters will be shut out of dealing with any disputes through an independent government tribunal.

"Our concern is they will make these payments out to landlords straight away and then they decide that they will go after the tenant," Ms Pippen said.

Ms Pippen said reassurances from product providers weren't enough and the ACT government needed to enshrine renters protections in legislation.

Mr Soutar said Trustbond, which is underwritten by insurance giant Suncorp, would only go after tenants if there was bad faith or intentional damage and would allow the ACT Civil and Administrative Tribunal to hear evidence from both renters and landlords.

Mr Soutar said Trustbond had written these requirements into their product but enforcement was a matter for the ACT government.

Any appeals would have to be made through the Financial Ombudsman Service or ACAT, which hears rental disputes.

Ms Pippen said commercial guarantors are not independent parties like ACAT and renters would not have a tenancy agreement with their landlord but rather a contract between them and the product.

Both Ms Pippen and Mr Soutar said the looked forward to discussing it further with the ACT government.