Surety Bonds

Obtaining guarantees

Great track record with bonding insurance

At IBERIAN INSURANCE GROUP we have extensive experience in surety insurance. Our success in this product is based on the following pillars: Specialization, Speed and Service.

The surety bond is equivalent to the bank guarantee, and fundamental for the growth of any company or entity that needs to guarantee its legal or contractual obligations to third parties (generally the Public Administration).

The advantages of surety insurance against the bank guarantee are:

Advantages of bond insurance

over bank guarantee
  • The first and most important is that it does NOT compute CIRBE (Central de Información de Riesgos del Banco de España). Bank guarantees do.
  • Agility in service.
  • There are no study, opening or cancellation fees.

Most common types of guarantees

although not the only ones we cover

Bid Bond or Provisional Guarantee

It guarantees the maintenance of the offer of our clients against the Public Administrations or other public or private Entities.

Definitive Bond or Guarantee of Good Execution

It guarantees the faithful fulfillment of the obligations of our customer, the supply or the service object of the contract towards third parties.

Guarantee of Advance Payment and Collection of Materials

Guarantees the successful completion of the advance payment for the works and the incorporation of the collections into the work/service in question.

Customs Guarantees

They are responsible for the settlement of taxes and customs duties after the passage of goods through Customs in their different freight forwarding regimes.

International Guarantees

We can offer the same service in certain countries of the European Union. Please contact us without obligation.

Renewable Energies

They guarantee the connection to the grid of electricity production facilities in photovoltaic, solar, wind, biomass, etc. plants…

Guarantees for travel agencies

Guarantees for surety and professional liability insurance agencies covering the administrative obligations of travel agencies towards the final consumer. (Retail Agencies – Wholesaler – Mixed).

Other guarantees for obtaining a licence for your activity

Sectors such as Temporary Employment Agencies (TEAs), security companies, insurance brokers, etc. need to deposit these guarantees with the corresponding public bodies in order to carry out their activity.

Quantity Guarantees

The advance guarantee insurance protects the Insured, i.e. the purchasers of the properties, against the obligations of the Policyholder, i.e. the promoter.

These obligations are determined in the contract of sale signed by both parties and refer to the delivery of the property for which the Insured has paid amounts in advance to the Policyholder.

Its contracting is obligatory according to the Law 38/1999 of Regulation of the Building and the regulations that develop it.

Other guarantees

We can consider any type of guarantee within our underwriting standards, and after study by our underwriters. Some examples of other types of guarantees are: Guarantees for Tax Deferral, Judicial, between private…

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