Legal surety bonds

Available in the following countries: Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Poland, Portugal, Spain, United Kingdom.

In some cases local or (inter)national legislation requires a surety bond as a condition to exercise a certain activity or profession, or to enjoy an extension of payment. We can issue the required surety bond and will pay the beneficiary up to the agreed bond amount, should you fail to fulfil your legal obligations.

Product benefits

  • The bond is proof of your financial soundness
  • The bond offers financial security towards the beneficiary
  • Your own funds stay available as you don’t need to block funds in favour of the beneficiary
  • Your credit facilities at the bank remain unburdened
  • Alleviation of the collaterals granted to the bank

Main characteristics

  • Who? For all companies located in the European Union in need of one or more legal surety bonds or guarantees
  • What? A surety facility under which one or more legal bonds can be issued in the framework of local or international legislation
  • The bond or guarantee will secure the fulfilment of your legal obligations and will allow you to practice a profession, continue an activity or enjoy extension of payment
  • In case of default or insolvency, the counterparty can claim an indemnification up to a predetermined amount
  • Tenor of bonds? Up to five years

A surety bond or guarantee can be necessary due to a legal obligation. In order to be able to execute a profession, obtain a permit or even enjoy an extension of payment, legislation will require that you are able to give a guarantee, often in favour of a government agency. If you fail to meet your legal obligations, the agency can claim under the surety bond or guarantee.

Typical legal bonds are

  • customs and excise bonds
  • permit and licence bonds (e.g. transport, port     concession)
  • timber bonds
  • environmental bonds
  • EU regulation bonds (e.g. agro-food bonds)
  • tax bonds

With our legal bonds you can exercise a profession, engage in a business activity or enjoy an extension of payment without deteriorating your liquidity. Your own funds remain available and you don’t need to use your bank facilities, freeing up means to finance the growth of your company.

Why Credendo?

  • Our flexibility and swiftness when it comes to issuing your surety bonds and guarantees
  • We value the relationships with our clients and look to build a lasting partnership
  • Our expertise and understanding of the prime markets and businesses where bonds are required
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Documentation

Surety, Folder
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General conditions
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