In many cases, Argentine companies go beyond the frontiers to carry out projects outside the country. In these situations, they frequently need bonds in those countries where they are working and they find it difficult because they do not have the assets that would let them have access to them.
For the sake of a solution, there is a tool within the Bond Insurance market, called Fronting, which lets us offer our clients some support abroad so that a colleague company provides them with the necessary guarantees.
- Information about the obligation to be guaranteed
A copy of the contract, bidding conditions, purchase order, request note, or equivalent will be required in those cases in which the obligation does not arise from a public regulation.
- Information about the contracting party
If it is the first time the party operates with us, we will ask for a copy of the last financial statements; if it is a society or an individual, they will be asked to provide a summary of the amounts invoiced in the last 12 months and information about their assets.
- Additional Information
So as to evaluate the risk under the process of being guaranteed, in some cases, some additional information on the obligation to be guaranteed or on the contrating party / taker of the insurance may be requested..