The purpose of the CESCE Transparency Portal is to comply with the disclosure requirements established in Law 19/2013, of 9 December, on Transparency, Access to Public Information and Good Governance. This Portal also structurally reinforces CESCE's transparency and provides full information on all the company’s activities.
The institutional and organisational information was last updated in May 2019. The financial, budgetary and statistical information was updated in April 2019. And the rest of the information was updated in September 2018.
This section contains general information about CESCE, roles, organisational structure and CESCE's management and governing bodies and legal framework.
CESCE heads a group of companies offering integrated trade credit management solutions in parts of Europe and Latin America. CESCE is also the Spanish Export Credit Agency responsible for managing export credit Insurance on behalf of the Spanish State.
As the Spanish Export Credit Agency (ECA), CESCE has exclusively managed the export credit insurance on behalf of the State since 1970.
Under Law 8/2014, of 22 April, on insuring the internationalisation risks of the Spanish economy on behalf of the State, the Company is responsible for insuring the internationalisation-related risks assumed on behalf of the State, but the State itself is ultimately required to meet the insurance obligations.
The risk coverage is provided through several types of insurance depending on the distinct characteristics of the transactions that will cover Extraordinary Risks, generates premiums and can lead to customer indemnities in the event of claims.
As the agent, CESCE collects premiums, pays indemnities, recovers debt resulting from non-payments, and manages the debt accumulated with different countries, all on behalf of the State.
The State controls and supervises the instrument through the Risk Committee on Behalf of the State. This committee has decision-making power over risk coverage proposals on behalf of the state. Furthermore, this activity is externally monitored by different Government bodies, including the Court of Auditors
Regulations applicable to CESCE
You can click on the following links to access the regulations applicable to CESCE:
- Corporate Activity
- Board of Directors
- Delegate Committees
- Organisational Chart
- Senior Management Team
Daily allowances for attending CESCE Board of Directors meetings are governed by the provisions of the Ministry of Finance and Public Administration Order, of 8 January 2013, which approves maximum compensation amounts for attending Board of Directors meetings for State Commercial Companies.
This section contains relevant economic, financial and budgetary information, as well as CESCE’s accountability via its monitoring mechanisms.
At CESCE there are no termination benefits, it is not required to report on budgetary execution and, in 2018, the entity received no subsidies. These categories are therefore omitted.
Information about minor contracts and contracts awarded through open tendering, according to our standards, can be looked up on the State’s procurement platform. For other contracts, click:
(Starting 1 April 2016, all contracts entered into, regardless of their amount, are published on the State’s Procurement Platform).
- Operating Budget
- Capital Budget “Cash Flow Statement"
- Profit and Loss Statement
- Cash Flow Statement
- Balance Sheet
Financial Situation and Solvency Report
The remuneration (fixed and variable) received by CESCE chairmen in 2018 is:
- Alvaro Rengifo: 94,532.21 euros
- Fernando Salazar: 80,673.49 euros
Monitoring and Control
CESCE is subject to monitoring by the State’s General Intervention Board and the Court of Auditors. You can look up the monitoring reports by clicking this link to the Court of Auditors website.
1. The procedure for exercising the right to access begins with submitting the corresponding request in writing to the Secretary General, or to the email address email@example.com
2. The request may be submitted by any means, provided that there is verification of:
- The identity of the requester.
- The information requested.
- A contact address, preferably electronic, for communication purposes.
- When applicable, the preferred means of accessing the requested information.
Reasons for non-admission
1. The following requests, by reasoned resolution, shall not be admitted:
- Requests that refer to information in the process of being prepared or published.
- Requests that refer to supplementary or supporting information like the content of notes, drafts, opinions, summaries, communications and internal reports or reports between administrative bodies or entities.
- Requests that refer to information whose disclosure would require reworking.
- Enquiries to CESCE about information of which it is not in possession and the competent authority is unknown.
- Requests that are clearly repetitive or unjustifiably abusive to the transparency pursued by Law 19/2013.
2. Requests that do not meet the identification requirements for the request for information indicated in the sections on Requesting and Formalising access.
1. If the request refers to information not in the possession of the company, the latter shall refer the request to who does, if known, and inform the requester of this circumstance.
2. When the request does not sufficiently identify the information requested, the requester is asked to do so within ten days, and is informed that if they do not the request will be dropped and the deadline for issuing a decision suspended.
3. If the information requested could affect the rights or interests of third parties, duly identified, they will be given a period of fifteen days to make any pleadings in court. The requester must be informed of this circumstance, and of the suspension of the deadline for issuing a decision until all pleadings have been received or the deadline to submit them has passed. When the information being requested, while still in the possession of the Company, has been fully or mostly prepared or generated by another entity, the request will be sent to them to issue a decision regarding access.
1. The decision to grant or deny access must be communicated to the requester and affected third parties that have requested it within one month of the competent authority receiving the request in question. This period can be expanded to two months if the volume or complexity of the information requested so requires, provided the requester is informed of this circumstance beforehand.
2. Decisions to deny access shall be considered reasonable if they grant partial access or access via means other than as requested, or if they allow access when there has been opposition from a third party. In the latter case, the interested party is expressly informed that the access shall only occur after the time indicated in article 22.2 d of Law 19/2013 has transpired.
3. When the mere indication of the existence or non-existence of the information entails violating any of the access limits, this circumstance is indicated when rejecting the request.
4. If the deadline for issuing a decision has passed without an express decision being issued and communicated the request shall be understood to have been rejected.
Formalisation of access
1. The request to access information may be submitted (a) via post to CESCE's registered address or submitted to an Administrative Office using the form provided for that purpose, via a letter addressed to CESCE including the handwritten signature of the requester with their identity duly accredited (copy of ID and/or powers granted when acting on behalf of a legal entity, as well as the entity’s articles of association) or (b) via telematic means (email), provided the request is made using a digital signature, digital ID, digital certificate or other administratively accepted means. When access cannot be made at the time of the decision notification, it must be granted, in any case, within no more than ten days.
2. Access to the information is free. However, requesters may be required to cover the costs of making copies or transposing the information to a format other than the original.