Guarantees, sureties and bonds are indispensable in many industries. Contracts are often awarded only using these security retentions. As the basis of a long-term and trustworthy cooperation, you demonstrate your business partner that you are solvent and reliable. The first point of contact for guarantees is usually your own principal bank. With a significant disadvantage:

Garantie- oder KautionsversicherungCredits by way of guarantees are totally charged to your credit line. They burden your total outstanding balance and thereby limit your liquidity scope. You achieve greater independence and untouched liquidity if you use smart alternatives: Credit insurers and specialized all-line insurers take on guarantees and bonds for your company towards your customer. With clear advantages: guarantee or bond insurances…

  • maintain your liquidity as they do not affect your credit exposure,
  • require less (or no) securities compared to banks,
  • are free of charge in case of alterations in the guarantee retentions,
  • enjoy a high level of acceptance (equivalent to large banks).

Get additional liquidity now …

… with new lines – instead of or in addition to existing bank guarantees. Simply download the questionnaire in German to your computer and send it filled in at gt@cib-kreditversicherung.at
If you need an English version of the questionnaire, please send your request at gt@cib-kreditversicherung.at.

Questionnaire SMEs & Large Companies

QUESTIONNAIRE LARGE (GERMAN)
We have attractive offers for smaller companies in the craft sector, construction and associated industries who need credit limits up to  € 200,000 (with maximum individual limits per guarantee between € 10,000 and € 50,000), especially for guarantees of liability retention, cover retention, and for performance. Please use this questionnaire in German:
If you need an English version of the questionnaire, please send your request at gt@cib-kreditversicherung.at.

Questionnaire Founders & Small Companies

QUESTIONNAIRE SMALL (GERMAN)

The day-to-day business usually requires quick and flexible action. You will therefore receive the best offers from us as soon as possible! And we will help you to easily and securely process the required guarantees and bonds.

Types of guarantees and bonds (sureties)

Bid Bond (Vadium)

For public or private tenders, a bid bond is often required to complement your offer (to the amount of between 1% and 5% of the total bid). The bid bond serves to ensure that you
– abide by your offer after the business deal is closed or do not withdraw it,
– sign the contract within the stipulated period,
– provide the specified delivery/performance guarantee.

For large orders and custom-made products, the supplier or manufacturer often requires an advance payment in order to
– pay to their sub-suppliers or to finance the purchase of raw materials,
– minimize the acceptance risk for special products if the customer finds a cheaper supplier.

It covers the proper execution of contractually agreed deliveries and services.

Secures the beneficiary (buyer) his guarantee claims, which have arisen from possible defects in the delivery or service provided. If the beneficiary retains a part of the invoice amount to cover possible guarantee claims, the seller can achieve payment of the entire contract sum before the expiry of the guarantee period by means of a retention bond.

In particular in the construction and plant engineering industry, the buyer can retain a partial sum for the duration of the guarantee period in order to repair the arisen defects or to offset them against these defects. With a liability retention guarantee, the seller or service provider receives the full payment even before the expiry of the guarantee period, while the service recipient remains protected against defects. The guarantee amounts to the full extent of the liability retention (5-15% of the purchase price) and spreads as the guarantee period over several years.

The cover retention secures overpayments that may arise from installment payments for construction projects. It is often deducted from the respective invoice and is due for refund with the final invoice. However, it can also be charged against the liability retention. With a cover retention guarantee, the contractor receives all partial payments without deduction, because this guarantee secures possible overpayments by the customer.

If necessary, we would also be happy to advise you on special guarantee types, such as:
– Special texts (customer’s guidelines) for guarantee insurance are possible
– Guarantees with a 10-year term (liability retentions) are negotiable
– Unlimited bonds for Germany if you export to Germany and your primary bank is not ready to issue them
– Commercial rent deposits that allow you to save large deposit amounts by paying a fixed calculable insurance premium
– ARGEs and promesses