insurance guarantee
modalities
“CONTESTANT”
Guarantee the indemnity up to the amount set in the Policy, if the Policy Holder refuses to sign the main contract, under the proposed conditions and within the deadline set in the bidding notice.
“CONSTRUCTION, SUPPLIER AND SERVICE PROVIDER
guarantee the indemnity, up to the amount fixed in the Policy, for the loss arising from the default of the obligations assumed by the Policy Holder, in construction contract, supply or provision of services, signed between him and the Favored/Beneficiary, and covered by the Policy.
“FINANCIAL OPERATION”
Guarantee to the Favored/Beneficiary, up to the amount fixed in the Policy, any losses that it may suffer as a result of non-payment of the installments due to it and not paid by the Policy, by virtue of a contract concluded by the parties.
“PAYMENT TRANSACTION”
Guarantee to the Favored/Beneficiary, up to the amount fixed in the Policy, as a result of non-payment of the installments due to it described in the Object of the Policy and not paid by the Policy Holder, by virtue of a contract entered into by the parties.
“RETENTION OF PAYMENT”
Guarantee the indemnity, up to the amount of the draft fixed in the Policy, of the damages caused by the default of the obligations assumed by the Policy, arising from the substitution of payment retention provided in the main contract signed with the Favored/ Beneficiary.
“ADVANCE ON PAYMENT”
Guarantee the indemnity, up to the amount set in the Policy, for the losses arising from the default of the obligations assumed by the Policy in relation to the advances of payments, granted by the Favored/Beneficiary, which have not been settled in the manner prescribed in the principal contract.
“PERFECT OPERATION”
Guarantee the indemnity, up to the amount set in the Policy and during the term, for damages arising from dysfunction of equipment provided or executed by the Policy Holder or Favored/Beneficiary, in the manner provided in the main contract.
“JUDICIAL”
Guarantee payment, up to the amount corresponding to the deposits in court that the Policyholder needs to perform in the course of judicial proceedings.
The coverage of this Policy, limited to the value of the guarantee, will only take effect after the final decision or judicial agreement favorable to the Favored/Beneficiary, the amount of which has not been paid by the Policy Holder.
“CUSTOMS”
Guarantee to the Favored/Beneficiary, up to the amount fixed in the Policy, the fulfillment of the obligations of the Policy Holder linked to the Term of Responsibility referred to in Decree n° 4.543, of 26 December 2002, in accordance with the normative institutions of the Federal Revenue Department, on the subject.
“ADMINISTRATIVE”
It is the object of this Policy provision of guarantee by the Policyholder to certify the veracity of tax credit and to prevent voluntary recourse in administrative proceedings, in the scope Federal, State and/or Municipal, in the form of the legislation in force
“LABOR AND SOCIAL SECURITY”
It aims, based on the main contract, to guarantee exclusively to the Favored/Beneficiary up to the amount set in the Policy, the repayment or payment of damages suffered by virtue of labor and social security obligations of the Policyholder in the event of subsidiary condemnation, in which proceed to the payment of the amount fixed by the judgment, by reason of a final judgment.
