Provisional Guarantee – Provisional Surety for Tender Competitions

Does your company participate in one or more tender competitions?

Are you looking for a provisional surety for public procurements?

Do you need a dedicated professional in Surety Insurance for procurements because you participate in many public competitions?

Are you looking for real-time online Surety Insurance for Trenitalia, Consip, or ANAS competitions?

Did you forget a competition deadline and need Surety Insurance Online or a provisional surety for public procurements immediately? ?

A provisional guarantee is an essential requirement to participate in a tender competition. This form of guarantee is increasingly requested by public administrations to ensure the actual implementation of services, works, and supplies by the company that wins the tender.

We are very fast, we issue online Surety Insurance for procurements in 24 hours, we have Surety Insurances for TRENITALIA, CONSIP, and ANAS tenders, and online enterprise surety.

We operate throughout the national territory (including islands).

Contact us directly online to receive a real-time response for business guarantees, or call one of our closest offices:

Tel. +39 055 49.32.199 – Tel. +39 02 667.124.17

or write an email: info@italiafideiussioni.it

You can also contact us via WhatsApp: +39 366.209.70.30 send a message and we will respond during office hours, within 5 minutes.

Before we focus on sureties for tender competitions, let’s see what it is.

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What does the Provisional Surety cover?

Provisional Surety in Procurements: In submitting bids for tenders, a “provisional guarantee” equal to 2% of the base value indicated in the tender notice is required. This can be a surety or a guarantee, at the bidder’s discretion. The contracting authority may adjust the amount of the surety between 1% and 4%, depending on the nature and risk of the contract. In aggregate competitions, the guarantee is standard at 2%. For temporary business consortia, the guarantee must cover all participating companies.

Methods of Depositing the Surety: The bidder may choose to deposit the surety in cash, by bank transfer, certified checks, or public debt securities guaranteed by the State. This deposit can be made at a provincial treasury section or at authorized companies, as a pledge.

Sureties for Contractors: Contractors can choose to issue the surety guarantee through banking, insurance, or financial intermediary firms that meet solvency requirements according to the law. These firms must be subject to audit by qualified companies.

Conditions of the Guarantee: The guarantee must include specific clauses, such as waiving the benefit of the debtor’s prior execution and the operability of the guarantee within 15 days upon request from the contracting authority.

Duration of the Guarantee: The guarantee must be valid for at least 180 days from the submission of the offer, with the possibility of adjusting the term based on the duration of the procedure. The notice may require the guarantor to renew the guarantee if necessary.

Coverage of the Guarantee: The guarantee covers situations such as the non-signing of the contract after the award for reasons attributable to the awardee, including any anti-mafia information measures. The guarantee is automatically released upon signing the contract.

Obligation of Surety for the Execution of the Contract: The offer must include the commitment of a surety, different from that of the provisional guarantee, to issue a surety guarantee for the execution of the contract, as established in articles 103 and 104. The surety guarantees must conform to the standard scheme of article 103, paragraph .

The online surety insurance or provisional surety is a form of guarantee that governs the relationship of three physical or legal entities .

• The contractor or debtor: the one who requests a loan from a credit institution. n our case, the company that wants to participate in the tender and wants to ensure to the entity the realization of the services through a surety.

• The beneficiary: the one who benefits from the surety contract, in other words, the guaranteed party. It can be the one who provides the financing or, as in our case, the entity issuing the tender notice and who wants to ensure that the services are delivered, as specified in the tender notice.
• The surety: the one who guarantees with their assets the extinction of the debt in case of insolvency on the part of the contractor. In our case, who is able to guarantee the economic coverage or any cost.

Provisional Sureties

With this contract, the company commits to the public entity to meet the requirements, purposes, and objectives specified in the tender. If the company wins the competition and is awarded the contract, it must also ensure an additional guarantee, thus the provisional guarantee under the procurement code becomes necessarily a definitive surety for public procurements.

If the company does not meet the obligations regarding the requirements specified in the tender or in case of award does not present the final surety contract under the procurement code, the beneficiary must be compensated by the guarantor within 15 days from the written request of the public entity.

In other words, the provisional public procurement surety issued by a credit institution as a surety is useful in the early stages of the tender to ensure the company meets all the requirements specified in the tender notice and subsequently in case of winning serves to attest the commitment of the guarantor to relaunch and subscribe to the definitive grace for the start of the works.

What documents are needed to obtain a provisional surety for procurements?

To apply for a provisional surety for public procurements, you must have the following documentation:

• Tender notice
• Tender specifications
• Chamber of Commerce certificate of the company
• Latest Filed Financial Statement
• Administrator’s document

For all other needs

Thanks to our professionalism and experience, we have established collaborations with the leading Italian Insurance Companies and provide provisional and definitive Surety Insurances online for every need, even the most complex: for CONSIP tenders, Project financing, Trenitalia, RFI, Grandi Stazioni…

CONTACT US!

It’s very simple: just send an email or call and one of our consultants can provide all the necessary information: info@italiafideiussioni.it

CALL US NOW!

WE REMAIN at your disposal for any clarification also at the numbers listed below:

Phone +39 055.49.32.199

Phone +39 06.50.21.002

Phone. +39 02.667.12.417

Phone. +39 011 188.375.67

You can also contact us via WhatsApp +39 366 209.70.30 – send a message and we will respond during office hours, within 5 minutes.

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