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SACE tools supporting Italian construction companies . Ance, April 29, 2009. Contract Award . Tender Bid. Execution. Provisional Taking Over. Final Taking Over. SACE tools supporting Italian construction companies .

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sace tools supporting italian construction companies2

Contract Award

Tender Bid

Execution

Provisional

Taking Over

Final

Taking Over

SACE tools supporting Italian construction companies
  • Insurance tools to guarantee the execution of contractual obbligations: Surety
  • Bid Bond
  • Warranty/

Maintenance Bond

  • Advance Payment Bond
  • Performance Bond
  • Retention Money Bond
  • Insurance tools to guarantee Credit & Production Risks: Export Credit
  • Export Credit Policy
  • Civil Work Policy
slide3

Validity

Until Contract

Award

Until Final

Taking Over

Until Final

Taking Over

Until Provisional

Taking Over

Until Provisional

Taking Over

Nature of Risk

failure to perform

Surety

% of Contract

Up to 5%

Up to 30%

Up to 20%(1)

Up to 10%

Up to 10%

Bid Bond

Money Retention Bond

Advance Payment Bond

Performance Bond

Maintenance Bond

Payment of sums released before the date for payment according to the terms of the Contract.

Adequate performance for a specified time period following the execution of the Contract

  • Failure to enter into the contract or to provide performance or other bonds pursuant to the tender.

Satisfactory execution of the Contract

Repayment of any sum advanced under or for the purpose of the Contract.

Risk Coverage

Up to 70% risk sharing for Bank Counter-Guarantees, i.e.“Polizza Fideiussioni” (by SACE SpA)

Up to 100% for Domestic&International “direct” Surety Bonds (by either SACE BT or SACE SpA (2))

% of Coverage

Insured Party

Bank on behalf of the Italian Company

Italian Company

(2) Based on the specific transaction requirements

(1) Up to 100% in US markets ;

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Insured Party

Bank

Italian Company

Italian Company

Export Credit

Civil Work Policy

Supply Credit Policy

Buyer Credit Policy

  • payment of works carried out by the Italian company based on work progress or Milestones pursuant to the terms of Contract (2)
  • unfair bond calling;
  • requisition/confiscation /destruction of goods & machinery exported for the execution of works.
  • deferred payments for overseas supplies made by the Italian company;
  • unilateral termination of contract;
  • unfair bond calling;
  • destruction/requisition /seizure.
  • Repayment of the financing for the Contract (1)

Risk Coverage

Nature of Risk

Commercial and Political

Commercial and Political

Commercial and Political

Up to 100% of export

contract value

Up to 100% of export

contract value

Up to 100% of production,

credit and ancillary risks

% of Coverage

(2) Usually financed through own funds

(1) Usually financed through external funding