Bonding facility geared to technically solvent enterprises with a significant number of employees venturing abroad in search of new business to maintain their activity, the first obstacle being the insufficiency of bond facilities.

Contracting this policy the bond issuer covers the risk of default by the exporter on the credit that originates in favour of the issuer in case the bond is called.

Risks Covered

  • Commercial Risks

Insurance Detail

  1. The exporter negotiates an export contract with his foreign client who asks that certain bonds (to ensure the return of advance payments, performance, operation, etc.) be issued in his favour.
  2. The exporter requests his bank to issue the bonds required.
  3. The bank approaches CESCE for coverage under the Guarantor’s Bond Insurance of the risk of the importer calling of the bond, regardless of the reason for such calling and provided the exporter guaranteed fails to attend the counterguarantee issued in favour of the financing institution.
  4. The bonding bank issues the bonds or counterguarantees directly in favour of the importer.
  5. The bonds could also be issued through a foreign bonding bank, which in turn issues them in favour of the importer.
  6. Once the export contract, the bonds and the guarantor’s bond insurance have been formalised, the exporter starts to perform the export contract.
  7. The calling of any of the bonds for whatever reason by the importer or the foreign bonding bank originates a credit payable by the exporter to the Spanish bonding bank. In case this credit is not honoured as a consequence of any of the risks referred in the policy, CESCE shall indemnify the insured bank according to the terms established under the policy for the losses deriving from the total or partial default on this credit.



1. The exporter discovers a business opportunity

As soon as your company identifies a potential export operation requiring the provision of a surety bond, contact CESCE to find out about the possibilities of coverage. You do not need to wait until the conclusion of the contract or until the bank issues the bonds.

2. The bonding bank asks for coverage for the calling of the bond under the Guarantor’s Bond Insurance:

To apply for coverage, fill in and e-mail the application form to cuentadelestado@cesce.es.


3. CESCE processes the application and answers the bonding bank

CESCE considers the application. If coverage is accepted, CESCE issues a binding proposal undertaking to cover the transactions in the terms approved. This proposal remains valid during a certain period of time. If coverage is not accepted in the terms requested, CESCE will inform the bonding bank of its decision in writing.

4. The bonding bank signs the conditions offered and forwards the documentation.

The bonding bank should accompany the insurance proposal duly signed in acceptance with a copy of the commercial contract or of the proforma invoice and the declaration of compliance with the OECD Antibribery Convention.


5. CESCE sends the policy to the bonding bank.

Immediately upon receipt of the insurance proposal valid and signed by the bonding bank and of the copy of the commercial contract or of the proforma invoice, CESCE forwards the insurance policy.

6. The bonding bank signs the policy and returns it to CESCE.

Requisite for the conclusion of the insurance contract.

The bonding bank returns CESCE the policy duly signed together with the Commitment of Repayment or Compensation signed by the exporter and proof of premium payment.

7. The bonding bank pays premium

Requisite for the conclusion of the insurance contract.

The bonding bank settles premium in the amount and within the terms set forth in the policy.

8. CESCE formalises the policy and sends a copy to the bonding bank.

Requisite for the conclusion of the insurance contract.

After due processing CESCE signs the policy already signed by the insured and sends the latter a copy together with the premium receipt.

General Conditioning (spanish/english version)