CONTRACTUAL GUARANTEES

To participate in a public tender or to perform a contract, you must be able to prove to your counterparty that you are financially sound and reliable. We can issue the required guarantee and if you do not meet your contractual obligations, we will pay the beneficiary a maximum of the predetermined amount of the guarantee.

Benefits of this product

Benefits of this product
  • Increase your project opportunities both nationally and internationally
  • The bail is proof of your financial health
  • Your own funds remain available and your credit facilities at the bank unaffected
  • Reduction of the collateral provided to the bank
  • The beneficiary has the assurance that the project will be completed

Most important features

Most important features
  • Who? For all companies based in the European Union that require one or more contractual guarantees or guarantees
  • What? A guarantee under which one or more contractual guarantees can be issued in favor of one or more counterparties
  • The guarantee or guarantee ensures that the contractual obligations with regard to a contractual counterparty are met
  • In the event of contractual default or insolvency, the counterparty may claim compensation up to a maximum of the predetermined amount
  • Duration of the guarantees? Up to five years

Companies often have to deal with a contractual counterparty who requests a bail or a guarantee. This guarantee, which is issued by a third party, will guarantee that the company will correctly and timely fulfill its contractual obligations towards the counterparty (the beneficiary). If this is not the case, the beneficiary can claim compensation up to a maximum of the predetermined amount of the guarantee.

Such a bail is usually required to secure the construction or maintenance of a building, the delivery of machines or services, international transactions, etc.

We mainly offer the following contractual guarantees, but others are also negotiable:

  • registration guarantees (bid bonds);
  • advance payment guarantees;
  • performance guarantees (performance bonds);
  • retention money bonds;
  • warranty bonds;
  • public procurement guarantees;
  • supplier guarantees;
  • letters of intent.

Thanks to our contractual guarantees, you can step into several projects, expand your international activities and prove to your counterparties that you are a reliable and financially sound party, without endangering your liquidity.

Why Credito?

Why us?
  • We are flexible and quick in issuing your guarantees and guarantees
  • We place great value on our relationships with customers and try to build a sustainable partnership.
  • We have expertise and insight into the most important markets and activities where guarantees are required.

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