Surety Insurance

The surety insurance or technical guarantees, is that insurance contract by which the insurer undertakes to compensate the insured for the damages suffered in the event that the policyholder fails to comply with the obligations, legal or contractual, that he maintains with him, within the limits established in the contract. Any payment made by the insurer must be reimbursed by the policyholder.

Surety insurance finds its reason for being when one of the parties to a contract demands from the counterpart a guarantee that provides the fulfillment of the obligations it has contracted. A simple way to obtain this guarantee is to contract the insurance that concerns us, since if the obligor defaults, the insurer takes charge of the compensation resulting from the breach, within the agreed limits. It is an insurance widely used for signing contracts with Public Administrations.

The contract taker would be the contractor company, and the contracting Public Administration would be the insured or beneficiary.

The main advantage of this type of guarantee is that, unlike the bank guarantee, it does not imply large losses of disposition on current assets: it is enough to pay the insurance premium to be legally covered for all purposes. Now: if the insured has to be compensated by the insurer, the policyholder has the obligation to return the amounts that have been paid.


They are not computed as a risk before the Bank of Spain (CIRBE)

Increase the availability of credit financing in your company

Activation of a line of guarantees that allows you to process your bonds when you need them quickly and easily.

It does not immobilize financial resources that can be dedicated to other business needs.

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