The Maintenance Bond

Any legal person that carried out a contract must, after the completion of the works, present a Maintenance Bond in order to remedy, without additional costs, any subsequent defects.

The Maintenance Bond assures the Beneficiary that any hidden defects of the executed work occurring during the post-execution period will be remedied.

This period of post-execution guarantee refers to the period of notification regarding the defects, starting from the signing of the proces-verbal of reception to the signing of the proces-verbal of final reception.

Maintenance Bond Advantages:

  • Increased ease of execution of the contractual obligations;
  • Unblocked sums that would have previously been used as a guarantee of maintenance;
  • Intact work capital, due to there not being a cash collateral requirement;
  • Reduced time to issue the guarantee compared to bank procedures;
  • Reduced costs;

The maximum insurance period is 60 months. In special cases, this guarantee can be established for a period of up to 15 years, provided special conditions are met.

Necessary Documents:

  • The intermediate balance and its final version for the year when the evaluation request is submitted

  • Application form

    • The contract signed between the two parties

    • A model of the warranties’ instrument – if the Beneficiary so requires it

    • The association agreement – only for associations

    • Confirmation of the establishment of a counter-warranty: a guaranteed promissory note without tenor or a check file without an emission date on the insured sum – for the issuance of the policy

    • Confirmation of payment of the insurance premium – for the issuance of the policy

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