Technical guarantees for companies are widely used by companies that operate with Public Administration. We are going to explain what technical guarantees are, the difference among them and financial guarantees and how it benefits your company to present them by means of surety insurance.   What is a technical endorsement and what is its function? The technical guarantee is a type of guarantee that reinforces the obligation to provide a service or benefit that does not involve the disbursement o...

A surety bond is an agreement between three (3) parties: the guarantor (Insurer), the beneficiary (counterparty), and the policyholder (client). The Insurer guarantees the Beneficiary that the policyholder will comply with the contract terms. Sometimes companies need to issue a financial guarantee before a third party and Surety Insurance is the most economical and the fastest way to do it. The beneficiary can be either a Public Body or a private entity. Usually, companies, SMEs, or freelancers ...

Presentarse a un concurso de obra pública o negociar contratos de obra privada es más complejo de lo que parece. Además de la documentación necesaria y cumplir con los requisitos que la contratista solicita, en ocasiones deben asegurar el fiel cumplimiento de los trabajos por los que se le contrata. Para ello, se exige la garantía de cumplimiento de contrato o performance bond. Explicamos qué es la garantía de cumplimiento, por qué se solicita y cómo presentarla de la forma más beneficiosa para ...

Spain is an interesting market for investing in renewable energies. As a specialised insurance brokers, we provide with relevant information for investors and installations promoters, such as investment data, trends, or Government's new plans.    1. Bond for access to the grid point  The promoter or investor is obliged by law to issue before the Administration a guarantee or surety insurance policy for grid points. This is stated by Royal Decree Law 15/2018, which establishes the amount of 40 €/...