TENDERS WITH THE PUBLIC ADMINISTRATION
Public Tenders
Public Sector
Contracts
Companies wishing to tender for works or services for the public sector need to provide a guarantee or surety insurance to guarantee the maintenance of the bid submitted to the administration.
If your company regularly bids for Public Administration contracts (Ministries, Autonomous Communities, City Councils, etc.), please ask us for information and once all the documentation has been provided, we will give you a quote.
We are fast in processing; it is possible to get your surety insurance in 48 – 72 working hours with our PLAFOND system if you provide us with all the requested documentation.
Concessions have a long operating period and we can arrange long-term surety insurance for you.
We can help you to replace the bank guarantee you have already deposited with surety insurance, so that you can unblock the pledged bank balances.
Among the most common concessions are:
- Port concessions
- Management of public car parks
- Management of public gymnasiums
- Sports facilities
- Passenger transport lines
- Catering
- Waste treatment
- Public bicycle concession.
- Restoration on public land (Premises on seaside promenades)
Advantages of
Surety Insurance
Policies over
5 years
Increased ability to
participate in auctions
No blocking/pledging
of bank balances
Does not consume CIRBE
More efficient
Plafond System
Coverage:
Types of Surety Insurance
SURETY INSURANCE
Consult the different Surety Insurances 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 insurance 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).
