We provide a comprehensive range of services designed to deliver measurable results and generate positive outcomes for your business.
Transfer of risk to insurers operating within the surety line of business
MULTIPLE LINES OF BUSINESS
| DOCUMENTATION REQUIRED FOR ONLINE RISK ASSESSMENT |
Grid connection bonds are statutory guarantees required by the relevant public authorities to ensure the project sponsor’s continued commitment and cooperation throughout the development and construction phase of photovoltaic plants or wind farms, up to the commissioning of the insured facilities.
Such bonds constitute a mandatory requirement under applicable legislation for the processing of applications for grid access rights and allocation of connection points.
Type I: Installations located on rooftops or façades of permanent structures, including residential or industrial buildings and car park canopies, situated on urban land. Sub-classification applies depending on whether the installed capacity exceeds or falls below 20 kW.
Type II: Installations not qualifying as Type I as defined above.
Surety Insurance Certificates are legally equivalent to bank guarantees. However, unlike bank guarantees, they are not recorded within the Bank of Spain’s Central Credit Risk Register (CIRBE) and therefore do not consume banking risk, enabling companies to preserve and optimise their borrowing capacity.
Insurers hold duly authorised powers of attorney, lodged with virtually all public authorities, allowing bonds to be issued within 24 hours of receipt. Once issued, documents can be dispatched via courier to your offices or any specified location nationwide.
Global policies incur no underwriting fees. The credit limit appraisal is entirely complimentary and without obligation. We only require the audited accounts for the last two financial years; however, should the audit still be pending, we can conduct a preliminary review using a draft or the year-end management report.
We partner with the leading insurers in the Spanish surety market, whose bonds hold full legal standing with public authorithies and are strictly regulated by the Directorate-General of Insurance.