(Garantías Demandables) What are they? Types

guarantee and back your
participation in international public bids, Bancomer
If you need to
has just what you’re looking for.
Bonds
(Garantías Demandables)
What are they?
Garantías Demandables are operations whereby Bancomer issues a security on behalf of customers
to sponsor their participation in international public bids: from the tender of bids to the
performance of agreements.
Bonds are broadly used to carry out great infrastructure works and are therefore required to
guarantee the reliability of the offer, compliance of contractual obligations, proper use of advance
funds, status of the works, among others.
Types of bonds
Bancomer offers several options to back up the completion of your projects through bonds:
•
Bid bonds: They are used to back up a bid if the principal is awarded the offer
•
Performance bonds: They are used to guarantee performance of an agreement in case of
being the successful bidder
•
Advance payment bonds: They are used to guarantee the proper utilization of advances
received by the successful bidder (i.e., advance payment of goods to be sold or services to be
rendered)
•
Tender bonds: They are used to guarantee that you are technical and financially able to
comply with your contractual commitments
•
Maintenance bonds: They are used to guarantee the adequate operation and/or
maintenance of the property sold or service rendered
Failure to comply with any of the phases determined by the seller entitles the beneficiary to enforce
or collect the bond.
BBVA BANCOMER, S.A. INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO
Banca de Empresas y Gobierno
Av. Universidad 1200, Col. Xoco 03339, México, D.F.
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GENERAL SCHEMA
Principal
PRINCIPAL’S
PAIS DEL
COUNTRY
ORDENANTE
BBVA Bancomer
Beneficiary
BENEFICIARY’S
PAIS DEL
COUNTRY
BENEFICIARIO
Bank
against-guarantor
Why should you sign up?
•
Security for the parties by having a payment commitment by the bank(s)
•
Guaranty of compliance of conditions agreed upon by seller and buyer
•
Service, by having specialized account managers to manage your business operations abroad
•
Opportunity, by facilitating your participation in domestic and international bids
•
Support of Grupo BBVA Bancomer to guarantee compliance of your commitments whether in
Mexico or abroad
•
Comfort and modernity, as you may issue and amend your bonds using Bancomer.com,
from any computer connected to the Internet or through the unique specialized network for
companies throughout Mexico
BBVA BANCOMER, S.A. INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO
Banca de Empresas y Gobierno
Av. Universidad 1200, Col. Xoco 03339, México, D.F.
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Requirements
•
Having or opening a Bancomer checking account
•
Having a credit line in effect and available
•
If you don’t have a credit line available, providing the funds in the relevant currency, charge
made to your account
•
Signing an Apertura de Crédito Irrevocable para Cartas de Crédito Stand By y Garantías
Demandables irrevocable credit for standby letters of credit and bonds agreement
•
Completing and signing the application for a Carta de Crédito Stand By o Garantía (Bond) letter
of credit or bond, Exhibit “A”
BBVA BANCOMER, S.A. INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO
Banca de Empresas y Gobierno
Av. Universidad 1200, Col. Xoco 03339, México, D.F.
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