Essential inputs | Bank Guarantee
It makes it easier for Spanish exporting companies to obtain guarantees for the signing of a medium- to long-term agreement for the purchase and sale of essential inputs for their industrial activity
Coverage of up to 80% of the guaranteed amount
The Essential Inputs | Bank Guarantee Policy covers the risk of non-payment by the guarantor of the guarantee in the event of enforcement
This policy provides support to Spanish exporting companies for the acquisition of inputs that are necessary in their manufacturing process, facilitating the obtaining of guarantees when these are necessary to qualify for a medium-term purchase agreement.
The insurance covers the Financial Institution (bank or insurer) that issue the guarantee or surety.
In the event of enforcement of the guarantee or surety requested by the Spanish company, this would give rise to a claim by the Spanish company against the issuer of the guarantee. This policy covers the risk of non-payment of the credit.
The agreement must not be an export agreement as long as the Spanish company is internationalised.
REQUEST MORE INFORMATION
Guarantees supporting the payment obligation of internationalised Spanish companies are eligible
Spanish companies are considered to be internationalised if they have exported at least 25% of their sales in two of the last three years. In the case of start-ups, the external revenues foreseen in their business plan shall be verified.
Who is the insured party?
The policyholder and insured party will always be the financial institution.
Who can apply for coverage?
Coverage can be requested by any of the parties involved in the operation: the financial entity issuing the guarantee, the Spanish company purchasing the input, the risk of which is insured, or the selling company.
REQUEST MORE INFORMATION
Commercial risks
The insurance covers the risk of non-payment of the credit arising between the ordering party of the guarantee (Spanish company purchasing the inputs) and the issuing institution upon execution of the guarantee or surety.
The guarantee must cover payment obligations arising from a medium- and long-term agreement for the purchase of essential inputs for production by a Spanish company.
Agreements must have a minimum term of two years and provide for minimum quantities and prices that may be index-linked.
It provides coverage against the risk of non-payment of the Credit due to insolvency in fact (prolonged default) or a statutory filing in law (insolvency proceedings) of the debtor (the Spanish company) and, where applicable, of the Guarantor (whether Spanish or foreign).
REQUEST MORE INFORMATION
There are no maximum or minimum limits on the amount per transaction
The maximum amount of coverage will be limited by the amount of the guarantee to be insured.
The percentage of coverage may not exceed 80% of this amount.
REQUEST MORE INFORMATION
Cesce sets the price depending on the risk fee charged by the financial institution
Coverages for a financial institution shall carry a premium at least equal to the risk commission charged by that institution, plus 5%.
REQUEST MORE INFORMATION
Send us an application and we will consider it
- Request for coverage: For internationalised Spanish companies that purchase essential consumable or for the issuer of the guarantee linked with the purchase contract of these consumables.
- Risk analysis by Cesce. Once the request is received and a check is performed that the operation is eligible to be subject to coverage from the State pursuant to the regulations in force, Cesce analyses the risk for which coverage is being requested against the information provided. The risk analysis examines the creditworthiness of the Spanish company purchasing the consumables (ordering party of the guarantee or surety and debtors of the credit, if executed) or, where applicable, of the Guarantor. A copy of the sales agreement may also be requested.
- Raising the proposal for coverage. Having analysed the risk, the Company raises a proposal to the competent risk committee, depending on the amount to be insured.
- Cesce response. In case of approval, Cesce will issue an Offer of conditions to the coverage applicant and future insurance policyholder, and will inform the buyer of the essential consumable if it has made the request.
- Coverage formalisation. If the Insured Party accepts the proposal, the coverage will be formalised once the parties have signed the Insurance Policy and the Insured Party has paid the premium.
If you are interested, please fill in and email the application form to cuentadelestado@cesce.es.
If you have any questions, please call +34 900 115 000 or send us your details, and we will contact you.
REQUEST MORE INFORMATIONMore about Essential inputs | Bank Guarantee
Contact us
Send us your details on this form and we’ll get in touch with you as soon as possible.
We’ll be delighted to help you.
Call us 900 115 000
Customer Services Hours from 08.30 to 19.00 from Monday to Thursday and from 08.30 to 16.00 on Fridays
Request information
Leave us your details and we’ll get in touch with you.