As we have reviewed previously, a bond is a guarantee whose purpose is to guarantee the fulfillment of a contract, this contract can be a work, lease, purchase order or order, contest, among other things.
By means of a bond, the beneficiary is assured that in the event that the bond fails to comply with the stipulated in the contract, the joint obligor, through the surety will be responsible for compensating the damage.
The compliance bond belongs to Branch III of the bond classification in Mexico ( Administrative ). Its function is to guarantee that the obligations that are agreed in a work contract, order or purchase order, are fulfilled in a timely manner.
By means of a compliance bond, the correct delivery of the goods and services contracted to a third party is guaranteed. In the event that this does not happen, the beneficiary may make the policy valid, which will work as compensation for the damages resulting from the breach.
What is the process to process a compliance bond?
With Marlon Seguda & Fianser, the process of a bond is simple, fast and at the best cost in the market. In each of our issuance processes, we provide the security and support necessary when doing business, always ensuring the protection of our clients’ interests.
- Complete the form found on our website, which will allow our professional advisors to know the needs of the interested party and get in touch with him.
- Collect the requested documentation for the processing of a bond and present it in original and copy for comparison.
- Complete the forms requested by the surety and make the payment corresponding to the issuance of the policy.
This type of deposit is normally issued for 10% of the total value of the contract whose fulfillment is being sought. It is important to keep in mind that there should be no debits in the Credit Bureau as this would prevent the issuance of the deposit.
Because we know the importance of protecting your interests and ensuring your assets, we maintain alliances with the best surety companies in the country in order to offer you a wide range of products and services.