Surety Insurance: Securing Commitments, Enabling Growth
Surety insurance is a kind of guarantee whereby an insurer agrees to compensate the beneficiary in the event that the policyholder fails to fulfil the obligations agreed upon in a contract.
In this way, it serves as a safeguard against potential breaches of contract.
Why choose surety insurance?
- It is not viewed as a risk in the Bank of Spain's Risk Information Centre (CIRBE), which allows the borrower to free up bank credit lines for other funding options, thus reducing the financial debt on the balance sheet.
- It does not involve the tying-up of resources, which favours better treasury management.
- With no arrangement fees, no appraisal fees, and no notary fees, it is more competitively priced compared to other forms of guarantee.
- It does not require cross-collateralisation, unlike mutual guarantee societies, where partners are jointly and severally liable.
This type of insurance involves three key parties:
- The policyholder, who must guarantee compliance with an obligation;
- The beneficiary, who receives the guarantee; and
- The insurance company, which assumes the obligation to provide compensation.
Commitment and Expertise
We at JHASA have a team with extensive experience in the surety sector, working closely with major clients both nationally and internationally.
We offer all kinds of surety insurance covers and adapt to the specific needs of each project or sector.
We specialise in guarantees related to the renewable energy sector, as well as in financial guarantees
However, we also work with a wide variety of guarantees, including:
- Customs
- Travel agencies
- Real estate agents
- Tax deferrals
- Administrative concessions
- Private security companies
- Temporary-work agencies
- Judicial guarantees
- Waste management and urban development
- Gaming
- Public works
- Urban swaps
- Environmental restoration
- Guarantee insurance for amounts paid on account
We are committed to offering solid, agile and accessible technical solutions, supporting our clients throughout the entire process and ensuring the best possible response for each need.
At JHASA, we provide tailored surety insurance solutions for companies and projects across various sectors, ensuring contractual compliance and delivering security and confidence in every transaction.
Contact us today and discover how we can help you secure your contractual obligations and optimise your financial resources with customised surety solutions.
