Environmental replenishment
Guarantees for activities that may cause damage to the environment
Surety bond
for environmental impact
The Public Administration has defined a series of industrial activities that may cause damage to the environment if a series of measures is not taken. Among these measures is the requirement to provide mandatory financial guarantees to cover the environmental liability inherent to their activity.
Industrial activities include mineral extraction, chemicals, livestock, metal processing, textiles, combustion, waste management, etc.
The Public Administration needs to ensure the rehabilitation of the natural space that may be affected by industrial activity, and therefore requires guarantees of restoration or guarantees of environmental protection. Surety bond is one of the ways in which this guarantee can be deposited with the Public Administration.
Companies will have to submit an environmental risk analysis to the Administration, which will determine the amount to be deposited.
In the case of mining activity, the Administration requires a Restoration Plan for possible negative impacts on nature, which must contain a detailed description of the measures to be implemented by the industry:
- Reducing the risk of environmental accidents.
- Limiting its consequences.
- Preventing, avoiding and remedying environmental damage that occurs.
This Restoration Plan will make it possible to quantify the guarantee to be lodged to cover the restoration work to rehabilitate the affected natural area.
Advantages of
Surety Bond
Policies over
5 years
We study surety bond policies with a duration of more than 5 years.
Increased ability to
participate in auctions
No blocking/pledging
of bank balances
Does not consume CIRBE
Surety bond does not consume bank credit limit, it is not a major bank risk which means higher eligibility for bank products (loans, credit accounts, etc.)
More efficient
Rapid evaluation of the application for the issuance of the surety bond policy, faster in its study and issuance than the bank guarantee.
Plafond System
Pre-approved line of surety bond that allows you to get your guarantee quickly when you need it.
Coverage:
Types of Surety Bond
SURETY BOND
Consult the different Surety Bonds that we have available
Every contractor who applies for a public tender, as established in the Law on Contracts with Public Administrations, needs to submit, together with their bid, a bid bond to ensure that, in the event that they are awarded the contract, they will sign the performance contract in accordance with the conditions under which they made their bid.
For those Contractors who have not been awarded the contract, the validity of this guarantee shall last until the awarding of the contract.
These guarantees may be constituted by means of a surety bond policy issued by an insurance company authorised to do so by the Directorate General of Insurance.
The loss arises in the event that the Insured Party awards the contract to the Policyholder and it is not formalised for reasons attributable to the bidder (Policyholder).
