We know that a Bond is an annex contract by means of which a Surety Company commits itself to the beneficiary or creditor, to fulfill an obligation in the event that the Fiado does not do so, giving it the assurance that what is established in the contract It will be carried out in a timely manner.

But, why is it important to hire a bond ? What benefits can be obtained by doing so? Through a contract Deposit, the beneficiary is provided, confident that his client will comply with the obligations that it has acquired, since for the bonding company granted the Deposit, the fiado had to submit certain documentation and demonstrate both its economic solvency, as well as its technical, moral and legal capacity. In addition to this, the Fiado is asked for the support of a joint obligor, that is, a physical or moral person who has real property whose value is greater than the value of the deposit.

Depending on the type of bond needed and the characteristics of it, there are several benefits that can be obtained from hiring, mainly, we can say that being a low-cost guarantee, the guarantor does not block your line of credit, besides it generates a greater commitment to carry out the fulfillment of the obligation acquired and established in the contract, benefiting all those involved.

Benefits of contract Bail

Benefits of contract Bail

Having the support of a trustworthy security company is essential to guarantee the security you need to protect your interests. Hiring a bond, provides the necessary legal certainty for the realization of a business, making its breach less serious, in case this happens.

Do you need to ensure compliance with an obligation or contract?